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Author Question: Long-run elasticity of supply is defined as: a. percentage change in quantity demanded in the long ... (Read 39 times)

fnuegbu

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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

Appendix: Common value auctions with open bidding necessarily entail
 a. asymmetric information
  b. ascending prices
  c. more than two bidders
  d. amendment of bids
  e. sealed final offers.


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covalentbond

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

c

Answer to Question 2

d


fnuegbu

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Reply 2 on: Jul 1, 2018
YES! Correct, THANKS for helping me on my review

amcvicar

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Reply 3 on: Yesterday
Great answer, keep it coming :)

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