This topic contains a solution. Click here to go to the answer

Author Question: The price elasticity of demand a. is of no use to producers b. tells producers what will happen to ... (Read 386 times)

Kikoku

  • Hero Member
  • *****
  • Posts: 540
The price elasticity of demand
 a. is of no use to producers
  b. tells producers what will happen to total profit if they change product price
  c. tells producers what will happen to quantity supplied if they change product price
  d. tells producers what will happen to total revenue if they change product price
  e. tells producers what will happen to price in the following time period

Question 2

Suppose that you allow yourself 50 per month to spend on compact disks. You spend exactly this much every month regardless of the price of compact disks. Therefore, your demand for CDs
 a. is elastic
  b. is inelastic
  c. is unit elastic
  d. cannot be characterized unless we know the price of a disk
  e. cannot be characterized unless we know the price and quantity of compact disks purchased



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

aliotak

  • Sr. Member
  • ****
  • Posts: 326
Answer to Question 1

D

Answer to Question 2

C




Kikoku

  • Member
  • Posts: 540
Reply 2 on: Jul 1, 2018
Excellent


matt95

  • Member
  • Posts: 317
Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

 

Did you know?

According to animal studies, the typical American diet is damaging to the liver and may result in allergies, low energy, digestive problems, and a lack of ability to detoxify harmful substances.

Did you know?

Oliver Wendell Holmes is credited with introducing the words "anesthesia" and "anesthetic" into the English language in 1846.

Did you know?

Famous people who died from poisoning or drug overdose include, Adolf Hitler, Socrates, Juan Ponce de Leon, Marilyn Monroe, Judy Garland, and John Belushi.

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?

The most destructive flu epidemic of all times in recorded history occurred in 1918, with approximately 20 million deaths worldwide.

For a complete list of videos, visit our video library