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

Author Question: How does an increase in the price of laptop memory chips affect the market of laptops? a. The ... (Read 146 times)

futuristic

  • Hero Member
  • *****
  • Posts: 638
on: Jul 1, 2018
How does an increase in the price of laptop memory chips affect the market of laptops?
 a. The demand curve for laptops to shift to the right
  b. The demand curve for laptops to shift to the left
  c. The supply curve for laptops to shift to the right
  d. The supply curve for laptops to shift to the left

Question 2

Consider the following linear demand function where QD = quantity demanded, P = selling price, and Y = disposable income: QD = 36 2.1P + .24Y The coefficient of P (i.e., 2.1) indicates that (all other things being held constant):
 a. for a one percent increase in price, quantity demanded would decline by 2.1 percent
  b. for a one unit increase in price, quantity demanded would decline by 2.1 units
  c. for a one percent increase in price, quantity demanded would decline by 2.1 units
  d. for a one unit increase in price, quantity demanded would decline by 2.1 percent
  e. none 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

mariahkathleeen

  • Sr. Member
  • ****
  • Posts: 337
Reply #1 on: Jul 1, 2018
Answer to Question 1

d

Answer to Question 2

b


futuristic

  • Member
  • Posts: 638
Reply 2 on: Jul 1, 2018
Wow, this really help

sarah_brady415

  • Member
  • Posts: 328
Reply 3 on: Yesterday
Gracias!

« previous next »
 

Did you know?

The National Institutes of Health have supported research into acupuncture. This has shown that acupuncture significantly reduced pain associated with osteoarthritis of the knee, when used as a complement to conventional therapies.

Did you know?

Individuals are never “cured” of addictions. Instead, they learn how to manage their disease to lead healthy, balanced lives.

Did you know?

In 1885, the Lloyd Manufacturing Company of Albany, New York, promoted and sold "Cocaine Toothache Drops" at 15 cents per bottle! In 1914, the Harrison Narcotic Act brought the sale and distribution of this drug under federal control.

Did you know?

Hippocrates noted that blood separates into four differently colored liquids when removed from the body and examined: a pure red liquid mixed with white liquid material with a yellow-colored froth at the top and a black substance that settles underneath; he named these the four humors (for blood, phlegm, yellow bile, and black bile).

Did you know?

When Gabriel Fahrenheit invented the first mercury thermometer, he called "zero degrees" the lowest temperature he was able to attain with a mixture of ice and salt. For the upper point of his scale, he used 96°, which he measured as normal human body temperature (we know it to be 98.6° today because of more accurate thermometers).

The recent mass upheavals in Tunisia, Egypt, Libya, Yemen, and Syria gave political scientists a cha The recent mass upheavals in Tunisia, Egypt, Libya, Yemen, and Syria gave political scientists a cha
Memory Memory
Relations Between Iconic Memory, Short-Term Memory, and Long-Term Memory Relations Between Iconic Memory, Short-Term Memory, and Long-Term Memory
Brain Areas Involved in Memory Brain Areas Involved in Memory
Immunological Memory Immunological Memory
The results from West and Crook's study of memory for telephone numbers The results from West and Crook's study of memory for telephone numbers
Video: Alzheimer's Disease

For a complete list of videos, visit our video library