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 175 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?

Automated pill dispensing systems have alarms to alert patients when the correct dosing time has arrived. Most systems work with many varieties of medications, so patients who are taking a variety of drugs can still be in control of their dose regimen.

Did you know?

Each year in the United States, there are approximately six million pregnancies. This means that at any one time, about 4% of women in the United States are pregnant.

Did you know?

For about 100 years, scientists thought that peptic ulcers were caused by stress, spicy food, and alcohol. Later, researchers added stomach acid to the list of causes and began treating ulcers with antacids. Now it is known that peptic ulcers are predominantly caused by Helicobacter pylori, a spiral-shaped bacterium that normally exist in the stomach.

Did you know?

Recent studies have shown that the number of medication errors increases in relation to the number of orders that are verified per pharmacist, per work shift.

Did you know?

Earwax has antimicrobial properties that reduce the viability of bacteria and fungus in the human ear.

Coral reefs are influenced by sea surface temperatures. Coral reefs are influenced by sea surface temperatures.
Minerals are nonrenewable resources in limited supply Minerals are nonrenewable resources in limited supply
The introduction of a new generation of electric and hybrid cars will reduce the demand for oil The introduction of a new generation of electric and hybrid cars will reduce the demand for oil
The demand for energy is met by burning coal and other fossil fuels The demand for energy is met by burning coal and other fossil fuels
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: Membrane transport proteins - pores, gated channels and pumps

For a complete list of videos, visit our video library