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Author Question: The demand for a product is more elastic a. When it has few substitutes b. In the long-run c. When ... (Read 55 times)

kshipps

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on: Jul 1, 2018
The demand for a product is more elastic
 a. When it has few substitutes
 b. In the long-run
 c. When the expenditure on the product represent a small portion of the budget
  d. When the product is broadly defined

Question 2

A Prisoners Dilemma illustrates the fact that
 a. Rational choices can lead to inefficient outcomes
 b. Rational choices always leads to good outcomes
 c. Rational choices always lead to inefficient outcomes
  d. None of the above


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ndhahbi

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

b

Answer to Question 2

a


kshipps

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  • Posts: 571
Reply 2 on: Jul 1, 2018
Great answer, keep it coming :)

upturnedfurball

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Reply 3 on: Yesterday
Wow, this really help

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