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Author Question: Lipitor, a heart medication with few substitutes, should have an own-price elasticity of demand that ... (Read 80 times)

meagbuch

  • Hero Member
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  • Posts: 568
on: Jul 1, 2018
Lipitor, a heart medication with few substitutes, should have an own-price elasticity of demand that is:
 a. Relative elastic
 b. Relatively inelastic
  c. Perfectly inelastic
 d. Perfectly elastic

Question 2

Bid-rigging is less likely in
 a. oral auctions
 b. English auctions
 c. first-price sealed-bid auctions
  d. all are equally likely


jasonq

  • Sr. Member
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  • Posts: 335
Reply #1 on: Jul 1, 2018
Answer to Question 1

b

Answer to Question 2

c


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