« previous next »

Author Question: Long-run elasticity of supply is defined as a. percentage change in quantity demanded in the long ... (Read 137 times)

NClaborn

  • Hero Member
  • *****
  • Posts: 560
on: Jul 1, 2018
Long-run elasticity of supply is defined as
 a. percentage change in quantity demanded in the long run divided by percentage change in price.
  b. percentage change in price divided by percentage change in quantity demanded in the long run.
  c. percentage change in quantity supplied in the long run divided by percentage change in price.
  d. percentage change in price divided by percentage change in quantity demanded in the long run.

Question 2

For an increasing cost industry, the long-run supply curve has a(n) elasticity of supply
 a. infinite.
  b. negative.
  c. positive.
  d. zero.


ApricotDream

  • Sr. Member
  • ****
  • Posts: 336
Reply #1 on: Jul 1, 2018
Answer to Question 1

c

Answer to Question 2

c


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
« previous next »
 

Did you know?

Vaccines prevent between 2.5 and 4 million deaths every year.

Did you know?

If all the neurons in the human body were lined up, they would stretch more than 600 miles.

Did you know?

Limit intake of red meat and dairy products made with whole milk. Choose skim milk, low-fat or fat-free dairy products. Limit fried food. Use healthy oils when cooking.

Did you know?

To combat osteoporosis, changes in lifestyle and diet are recommended. At-risk patients should include 1,200 to 1,500 mg of calcium daily either via dietary means or with supplements.

Did you know?

Russia has the highest death rate from cardiovascular disease followed by the Ukraine, Romania, Hungary, and Poland.

Local and long–distance cell communication in animals. Local and long–distance cell communication in animals.
Long Term Control Medications Long Term Control Medications
Desertification and Climate Change Desertification and Climate Change
Climate change affects organisms and ecosystems Climate change affects organisms and ecosystems
Global Climate Change Global Climate Change
By 2100, significant change will be in the far northern latitudes, parts of Asia, and Sub-Saharan By 2100, significant change will be in the far northern latitudes, parts of Asia, and Sub-Saharan
Video: Structure of a Ribosome

For a complete list of videos, visit our video library