« previous next »

Author Question: Long-run elasticity of supply is defined as a. percentage change in quantity demanded in the long ... (Read 130 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?

Liver spots have nothing whatsoever to do with the liver. They are a type of freckles commonly seen in older adults who have been out in the sun without sufficient sunscreen.

Did you know?

The effects of organophosphate poisoning are referred to by using the abbreviations “SLUD” or “SLUDGE,” It stands for: salivation, lacrimation, urination, defecation, GI upset, and emesis.

Did you know?

Oxytocin is recommended only for pregnancies that have a medical reason for inducing labor (such as eclampsia) and is not recommended for elective procedures or for making the birthing process more convenient.

Did you know?

In 1864, the first barbiturate (barbituric acid) was synthesized.

Did you know?

Drug abusers experience the following scenario: The pleasure given by their drug (or drugs) of choice is so strong that it is difficult to eradicate even after years of staying away from the substances involved. Certain triggers may cause a drug abuser to relapse. Research shows that long-term drug abuse results in significant changes in brain function that persist long after an individual stops using drugs. It is most important to realize that the same is true of not just illegal substances but alcohol and tobacco as well.

Blood supply to the pituitary gland Blood supply to the pituitary gland
world percentage of religion world percentage of religion
Major Categories of Long-Term Memory Major Categories of Long-Term Memory
Use palms and fingers to brush off along the back of the body from shoulders to feet with long ... Use palms and fingers to brush off along the back of the body from shoulders to feet with long ...
Part of a Semantic Network in Long-Term Memory Part of a Semantic Network in Long-Term Memory
Perform the indicated division (long division polynomials) Perform the indicated division (long division polynomials)
Video: Pasteur's Experiment

For a complete list of videos, visit our video library