This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: Which of the following statements contradicts an upward-sloping market-supply curve? a. All people ... (Read 72 times)

CBme

  • Hero Member
  • *****
  • Posts: 548
on: Jun 30, 2018
Which of the following statements contradicts an upward-sloping market-supply curve?
 a. All people have backward-bending individual supply curves.
  b. Leisure is more enjoyable than work.
  c. The elasticity of labor supply is larger than the elasticity of labor demand.
  d. To work more means to enjoy less leisure.
  e. The opportunity cost of leisure decreases with an increase in wage rate.

Question 2

In the opinion of many consumers, there are few, if any, substitutes for the popular search engine Google. If Google were to charge consumers for its services, it would face:
 a. a relatively inelastic demand curve.
  b. a relatively elastic demand curve.
  c. a negative income elasticity of demand.
  d. a positive cross elasticity of demand.
  e. a perfectly elastic demand curve.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

srodz

  • Sr. Member
  • ****
  • Posts: 333
Reply #1 on: Jun 30, 2018
Answer to Question 1

a

Answer to Question 2

a


CBme

  • Member
  • Posts: 548
Reply 2 on: Jun 30, 2018
Gracias!

tranoy

  • Member
  • Posts: 344
Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

« previous next »
 

Did you know?

Stevens-Johnson syndrome and Toxic Epidermal Necrolysis syndrome are life-threatening reactions that can result in death. Complications include permanent blindness, dry-eye syndrome, lung damage, photophobia, asthma, chronic obstructive pulmonary disease, permanent loss of nail beds, scarring of mucous membranes, arthritis, and chronic fatigue syndrome. Many patients' pores scar shut, causing them to retain heat.

Did you know?

The most common childhood diseases include croup, chickenpox, ear infections, flu, pneumonia, ringworm, respiratory syncytial virus, scabies, head lice, and asthma.

Did you know?

The calories found in one piece of cherry cheesecake could light a 60-watt light bulb for 1.5 hours.

Did you know?

Your chance of developing a kidney stone is 1 in 10. In recent years, approximately 3.7 million people in the United States were diagnosed with a kidney disease.

Did you know?

Eat fiber! A diet high in fiber can help lower cholesterol levels by as much as 10%.

Pronation and Supination Pronation–Lying prone (face downward); also turning the palm downward. Supi Pronation and Supination Pronation–Lying prone (face downward); also turning the palm downward. Supi
Human photopic (cone) and scotopic (rod) spectral sensitivity curves. The peak of each curve has ... Human photopic (cone) and scotopic (rod) spectral sensitivity curves. The peak of each curve has ...
The adsorption spectrum of rhodopsin compared with the human scotopic spectral sensitivity curve. The adsorption spectrum of rhodopsin compared with the human scotopic spectral sensitivity curve.
Ads from the public service campaign in the late 1960s and early 1970s that encouraged people to get ... Ads from the public service campaign in the late 1960s and early 1970s that encouraged people to get ...
The Radioactive Decay Curve The Radioactive Decay Curve
Stock Market Question Stock Market Question
Video: Transferring genes into plants Animation

For a complete list of videos, visit our video library