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

Author Question: If the demand for a good is perfectly inelastic, then: a. the value of price elasticity of demand ... (Read 44 times)

oliviahorn72

  • Hero Member
  • *****
  • Posts: 579
on: Jun 30, 2018
If the demand for a good is perfectly inelastic, then:
 a. the value of price elasticity of demand of the good is equal to 1.
  b. the value of price elasticity of demand of the good is equal to -1.
  c. the demand curve of the good is nonexistent.
  d. consumers are very responsive to a change in the price of the good.
  e. quantity demanded does not change when price of the good changes.

Question 2

If you win money in a casino you may be more likely to spend that money than your hard-earned cash. This is called:
 a. compartmentalizing
  b. self control
 c. rule of thumb
 d. anchoring


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

yasmin

  • Sr. Member
  • ****
  • Posts: 319
Reply #1 on: Jun 30, 2018
Answer to Question 1

e

Answer to Question 2

a


oliviahorn72

  • Member
  • Posts: 579
Reply 2 on: Jun 30, 2018
YES! Correct, THANKS for helping me on my review

coreycathey

  • Member
  • Posts: 333
Reply 3 on: Yesterday
:D TYSM

« previous next »
 

Did you know?

If you could remove all of your skin, it would weigh up to 5 pounds.

Did you know?

Medication errors are more common among seriously ill patients than with those with minor conditions.

Did you know?

Blood is approximately twice as thick as water because of the cells and other components found in it.

Did you know?

Dogs have been used in studies to detect various cancers in human subjects. They have been trained to sniff breath samples from humans that were collected by having them breathe into special tubes. These people included 55 lung cancer patients, 31 breast cancer patients, and 83 cancer-free patients. The dogs detected 54 of the 55 lung cancer patients as having cancer, detected 28 of the 31 breast cancer patients, and gave only three false-positive results (detecting cancer in people who didn't have it).

Did you know?

According to the American College of Allergy, Asthma & Immunology, more than 50 million Americans have some kind of food allergy. Food allergies affect between 4 and 6% of children, and 4% of adults, according to the CDC. The most common food allergies include shellfish, peanuts, walnuts, fish, eggs, milk, and soy.

Jeremy Deller, A Good Day for Cyclists (painted by Sarah Tynan). Jeremy Deller, A Good Day for Cyclists (painted by Sarah Tynan).
How to create a price index to calculate inflation for a basket of goods How to create a price index to calculate inflation for a basket of goods
Good Old War - Part Of Me [Audio] Good Old War - Part Of Me [Audio]
Dried fruits are good source of sulfur Dried fruits are good source of sulfur
Elastic/inelastic #5 Elastic/inelastic #5
During a period of high power demand, the voltage output of the power company is reduced by ... During a period of high power demand, the voltage output of the power company is reduced by ...
Video: Phases of the Female Reproductive Cycle - Hormonal regulation

For a complete list of videos, visit our video library