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Author Question: If a 1 percent increase in price leads to a .7 percent increase in quantity supplied in the short ... (Read 110 times)

craiczarry

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on: Jul 1, 2018
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.


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xiaomengxian

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Reply #1 on: Jul 1, 2018
Answer to Question 1

b

Answer to Question 2

b


craiczarry

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Reply 2 on: Jul 1, 2018
Great answer, keep it coming :)

tranoy

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Reply 3 on: Yesterday
Wow, this really help

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