[Answered] As the number of substitutes for a good increases, the absolute value of its own-price elasticity ...

This topic contains a solution. Click here to go to the answer

Author Question: As the number of substitutes for a good increases, the absolute value of its own-price elasticity ... (Read 77 times)

soccerdreamer_17

Hero Member
Posts: 552

on: Jul 1, 2018

As the number of substitutes for a good increases, the absolute value of its own-price elasticity
a. stays the same
b. increases
c. decreases
d. the good becomes perfectly inelastic.

Question 2

Suppose that Firm A cheats, and B does not. What is A's payoff from cheating?
a. 0
b. 50
c. -10
d. 25

Need homework help now?

Ask unlimited questions for free

Ask a Question

Marked as best answer by a Subject Expert

cegalasso

Sr. Member
Posts: 295

Reply #1 on: Jul 1, 2018

Answer to Question 1

b

Answer to Question 2

b

soccerdreamer_17

Hero Member
Posts: 552

Reply #2 on: Jul 1, 2018

Thank you

cegalasso

Sr. Member
Posts: 295

Reply #3 on: Jul 1, 2018

No problemo

« previous next »

Did you know?

The types of cancer that alpha interferons are used to treat include hairy cell leukemia, melanoma, follicular non-Hodgkin's lymphoma, and AIDS-related Kaposi's sarcoma.

Did you know?

The cure for trichomoniasis is easy as long as the patient does not drink alcoholic beverages for 24 hours. Just a single dose of medication is needed to rid the body of the disease. However, without proper precautions, an individual may contract the disease repeatedly. In fact, most people develop trichomoniasis again within three months of their last treatment.

Did you know?

The strongest synthetic topical retinoid drug available, tazarotene, is used to treat sun-damaged skin, acne, and psoriasis.

Did you know?

The most dangerous mercury compound, dimethyl mercury, is so toxic that even a few microliters spilled on the skin can cause death. Mercury has been shown to accumulate in higher amounts in the following types of fish than other types: swordfish, shark, mackerel, tilefish, crab, and tuna.

Did you know?

The first monoclonal antibodies were made exclusively from mouse cells. Some are now fully human, which means they are likely to be safer and may be more effective than older monoclonal antibodies.

Flower part number is a characteristic difference between monocots and eudicots

Some mangrove islands in the Florida Keys, which number in the thousands, are convenient places to t

Part A - Calculating the expected number of each phenotype

“Career choice” for many women means leaving their paid jobs for a number of years when they ...

What is the total number of valence electrons in a silicate ion, SiO32-?

Cost = $99.49; Rate of markup based on cost = 32%. Find the markup and selling price.

Author Question: As the number of substitutes for a good increases, the absolute value of its own-price elasticity ... (Read 77 times)

Related Topics

Need homework help now?