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

Author Question: If a 1 percent increase in price leads to a .7 percent increase in quantity supplied in the short ... (Read 109 times)

craiczarry

  • Hero Member
  • *****
  • Posts: 527
If a 1 percent increase in price leads to a .7 percent increase in quantity supplied in the short run, the short-run supply curve is
 a. elastic.
  b. inelastic.
  c. unit elastic.
  d. perfectly inelastic.

Question 2

A demand curve will shift out for any of the following reasons except
 a. preference for a good increases.
  b. price of a substitute falls.
  c. income rises.
  d. price of a complement falls.



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

xiaomengxian

  • Sr. Member
  • ****
  • Posts: 311
Answer to Question 1

b

Answer to Question 2

b




craiczarry

  • Member
  • Posts: 527
Reply 2 on: Jul 1, 2018
Gracias!


kishoreddi

  • Member
  • Posts: 329
Reply 3 on: Yesterday
Wow, this really help

 

Did you know?

As many as 20% of Americans have been infected by the fungus known as Histoplasmosis. While most people are asymptomatic or only have slight symptoms, infection can progress to a rapid and potentially fatal superinfection.

Did you know?

All adults should have their cholesterol levels checked once every 5 years. During 2009–2010, 69.4% of Americans age 20 and older reported having their cholesterol checked within the last five years.

Did you know?

Nearly all drugs pass into human breast milk. How often a drug is taken influences the amount of drug that will pass into the milk. Medications taken 30 to 60 minutes before breastfeeding are likely to be at peak blood levels when the baby is nursing.

Did you know?

In the United States, there is a birth every 8 seconds, according to the U.S. Census Bureau's Population Clock.

Did you know?

Bacteria have been found alive in a lake buried one half mile under ice in Antarctica.

For a complete list of videos, visit our video library