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Author Question: If quantity demanded for rice falls by 2 when price increases 8, we know that the absolute value of ... (Read 55 times)

nenivikky

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on: Jul 1, 2018
If quantity demanded for rice falls by 2 when price increases 8, we know that the absolute value of the own-price elasticity of rice is:
 a. 2.5.
  b. 0.25
  c. 4.0
  d. 0.40.

Question 2

The moral hazard in team production arises from
 a. poorly designed team membership
  b. lack of proper assignment of individual tasks
  c. disorganization in groups
  d. a conflict between tactically best interest and one's duty
  e. insufficient experience


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shoemake

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

b

Answer to Question 2

d


nenivikky

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Reply 2 on: Jul 1, 2018
Thanks for the timely response, appreciate it

scottmt

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

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