« previous next »

Author Question: If Herbert, the hair stylist, raises the price of his cuts from 13 to 15 and finds the number of ... (Read 136 times)

londonang

  • Hero Member
  • *****
  • Posts: 540
on: Jun 30, 2018
If Herbert, the hair stylist, raises the price of his cuts from 13 to 15 and finds the number of cuts falls from 300 to 260, then the demand for Herbert's cuts in this range is:
 a. price inelastic.
  b. price elastic.
  c. unit elastic.
  d. cross elastic.
  e. income inelastic.

Question 2

If Sam, the Pizza Man, lowers the price of his pizzas from 6 to 5 and finds that sales increase from 400 to 600 pizzas per week, then the demand for Sam's pizzas in this range is:
 a. price inelastic.
  b. price elastic.
  c. unit elastic.
  d. cross elastic.
  e. income inelastic.


allisonblackmore

  • Sr. Member
  • ****
  • Posts: 330
Reply #1 on: Jun 30, 2018
Answer to Question 1

c

Answer to Question 2

b


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
« previous next »
 

Did you know?

Alzheimer's disease affects only about 10% of people older than 65 years of age. Most forms of decreased mental function and dementia are caused by disuse (letting the mind get lazy).

Did you know?

The training of an anesthesiologist typically requires four years of college, 4 years of medical school, 1 year of internship, and 3 years of residency.

Did you know?

On average, the stomach produces 2 L of hydrochloric acid per day.

Did you know?

Despite claims by manufacturers, the supplement known as Ginkgo biloba was shown in a study of more than 3,000 participants to be ineffective in reducing development of dementia and Alzheimer’s disease in older people.

Did you know?

Approximately 15–25% of recognized pregnancies end in miscarriage. However, many miscarriages often occur before a woman even knows she is pregnant.

Ion uptake at root hair membranes. Ion uptake at root hair membranes.
Hair Tells a Tale Hair Tells a Tale
Relationship between the number of CAG repeats in a gene and the age of onset of Huntington disease. Relationship between the number of CAG repeats in a gene and the age of onset of Huntington disease.
Determination of the number of theoretical stages Determination of the number of theoretical stages
Calculate the number of sodium ions in 0.375moles of Na2CO3.10H20 Calculate the number of sodium ions in 0.375moles of Na2CO3.10H20
Chromosome Number in Selected Animal Species Chromosome Number in Selected Animal Species
Video: Chromosome structural organization/ Mechanisms for chromosome movement Animation

For a complete list of videos, visit our video library