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

Author Question: Price elasticity of demand and price elasticity of supply are both influenced by a. the ... (Read 187 times)

Evvie72

  • Hero Member
  • *****
  • Posts: 519
on: Jul 1, 2018
Price elasticity of demand and price elasticity of supply are both influenced by
 a. the availability of close substitutes for the product
  b. the proportion of the consumer's budget spend on the product
  c. the length of the adjustment period considered
  d. technological conditions such as the additional costs of increasing production
  e. none of the above

Question 2

The price elasticity of today's supply curve of classrooms on campus is likely to
 a. be greater than 1
  b. be less than 1
  c. be equal to 1
  d. approach zero
  e. be infinity


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

BUTTHOL369

  • Sr. Member
  • ****
  • Posts: 341
Reply #1 on: Jul 1, 2018
Answer to Question 1

C

Answer to Question 2

D


Evvie72

  • Hero Member
  • *****
  • Posts: 519
Reply #2 on: Jul 1, 2018
Thank you


BUTTHOL369

  • Sr. Member
  • ****
  • Posts: 341
Reply #3 on: Jul 1, 2018
No problemo


« previous next »
 

Did you know?

Carbamazepine can interfere with the results of home pregnancy tests. If you are taking carbamazepine, do not try to test for pregnancy at home.

Did you know?

Prostaglandins were first isolated from human semen in Sweden in the 1930s. They were so named because the researcher thought that they came from the prostate gland. In fact, prostaglandins exist and are synthesized in almost every cell of the body.

Did you know?

Astigmatism is the most common vision problem. It may accompany nearsightedness or farsightedness. It is usually caused by an irregularly shaped cornea, but sometimes it is the result of an irregularly shaped lens. Either type can be corrected by eyeglasses, contact lenses, or refractive surgery.

Did you know?

Many supplement containers do not even contain what their labels say. There are many documented reports of products containing much less, or more, that what is listed on their labels. They may also contain undisclosed prescription drugs and even contaminants.

Did you know?

There are major differences in the metabolism of morphine and the illegal drug heroin. Morphine mostly produces its CNS effects through m-receptors, and at k- and d-receptors. Heroin has a slight affinity for opiate receptors. Most of its actions are due to metabolism to active metabolites (6-acetylmorphine, morphine, and morphine-6-glucuronide).

Myocardial Oxygen supply and demand Myocardial Oxygen supply and demand
Marginal Supply - Demand Curve Marginal Supply - Demand Curve
Oil supply and prices affect the economies of nations Oil supply and prices affect the economies of nations
The population of Asia increases rapidly, the demand for food and water is also growing The population of Asia increases rapidly, the demand for food and water is also growing
Sonal bought a coat for $198.88, which included 8% PST and 5% GST. What was the selling price ... Sonal bought a coat for $198.88, which included 8% PST and 5% GST. What was the selling price ...
Sex-influenced inheritance of beard appearance in goats Sex-influenced inheritance of beard appearance in goats
Video: Angiotensin II - kidneys, adrenal glands and dehydration

For a complete list of videos, visit our video library