« previous next »

Author Question: Long-run elasticity of supply is defined as a. percentage change in quantity demanded in the long ... (Read 86 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?

Sperm cells are so tiny that 400 to 500 million (400,000,000–500,000,000) of them fit onto 1 tsp.

Did you know?

The heart is located in the center of the chest, with part of it tipped slightly so that it taps against the left side of the chest.

Did you know?

The first war in which wide-scale use of anesthetics occurred was the Civil War, and 80% of all wounds were in the extremities.

Did you know?

The word drug comes from the Dutch word droog (meaning "dry"). For centuries, most drugs came from dried plants, hence the name.

Did you know?

A recent study has found that following a diet rich in berries may slow down the aging process of the brain. This diet apparently helps to keep dopamine levels much higher than are seen in normal individuals who do not eat berries as a regular part of their diet as they enter their later years.

How Long Does Poverty Last? How Long Does Poverty Last?
Long-term Potentiation in the granule cell layer of the rat hippocampal dentate gyrus. (Traces ... Long-term Potentiation in the granule cell layer of the rat hippocampal dentate gyrus. (Traces ...
Global Climate Change Global Climate Change
A single-nucleotide change in the DNA encoding -globin A single-nucleotide change in the DNA encoding -globin
Greater Long-nosed Tree Shrew (Tupaia tana), Borneo and Sumatra. Greater Long-nosed Tree Shrew (Tupaia tana), Borneo and Sumatra.
Demographic transition model for changes in population growth rates and sizes, correlated with long- Demographic transition model for changes in population growth rates and sizes, correlated with long-
Video: How does an animal choose what food to eat?

For a complete list of videos, visit our video library