This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: The price elasticity of demand for good x is defined as: a. percentage change in px / percentage ... (Read 64 times)

faduma

  • Hero Member
  • *****
  • Posts: 528
on: Jul 1, 2018
The price elasticity of demand for good x is defined as:
 a. percentage change in px / percentage change in x.
  b. percentage change in x /percentage change in px.
  c. percentage change in x/percentage change in income.
  d. percentage change in x /percentage change in py.

Question 2

In natural monopoly, AC continuously declines due to economies in distribution or in production, which tends to found in industries which face increasing returns to scale. If price were set equal to marginal cost, then:
 a. price would equal average cost.
  b. price would exceed average cost.
  c. price would be below average cost.
  d. price would be at the profit maximizing level for natural monopoly
  e. all of the above


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

potomatos

  • Sr. Member
  • ****
  • Posts: 338
Reply #1 on: Jul 1, 2018
Answer to Question 1

b

Answer to Question 2

c


faduma

  • Member
  • Posts: 528
Reply 2 on: Jul 1, 2018
YES! Correct, THANKS for helping me on my review

bimper21

  • Member
  • Posts: 309
Reply 3 on: Yesterday
Wow, this really help

« previous next »
 

Did you know?

Multiple sclerosis is a condition wherein the body's nervous system is weakened by an autoimmune reaction that attacks the myelin sheaths of neurons.

Did you know?

Nearly 31 million adults in America have a total cholesterol level that is more than 240 mg per dL.

Did you know?

Automated pill dispensing systems have alarms to alert patients when the correct dosing time has arrived. Most systems work with many varieties of medications, so patients who are taking a variety of drugs can still be in control of their dose regimen.

Did you know?

Acute bronchitis is an inflammation of the breathing tubes (bronchi), which causes increased mucus production and other changes. It is usually caused by bacteria or viruses, can be serious in people who have pulmonary or cardiac diseases, and can lead to pneumonia.

Did you know?

When intravenous medications are involved in adverse drug events, their harmful effects may occur more rapidly, and be more severe than errors with oral medications. This is due to the direct administration into the bloodstream.

Natural Causes of Climate Change Natural Causes of Climate Change
Climate Change Climate Change
The demand for cheap coal to generate electrical power is rising The demand for cheap coal to generate electrical power is rising
Avocados are a good source of pantothenic acid, dietary fiber, vitamin K Avocados are a good source of pantothenic acid, dietary fiber, vitamin K
Change in Bone Mass over Time In your early years, more bone mass is added than lost in your body Change in Bone Mass over Time In your early years, more bone mass is added than lost in your body
Determine the enthalpy change of this reaction Determine the enthalpy change of this reaction
Video: Renal Failure

For a complete list of videos, visit our video library