« previous next »

Author Question: Explain why short-run demand for frozen fish sticks may be more price elastic in the short run than ... (Read 71 times)

student77

  • Hero Member
  • *****
  • Posts: 567
on: Jul 1, 2018
Explain why short-run demand for frozen fish sticks may be more price elastic in the short run than in the long run.
 
  What will be an ideal response?

Question 2

Explain whether you would expect the elasticity of supply to be highly elastic or inelastic for fresh cut flowers and why.
 
  What will be an ideal response?
Microeconomics ¦ Perloff ¦ 8th Edition
Buy Test-Bank


sierramartinez

  • Sr. Member
  • ****
  • Posts: 313
Reply #1 on: Jul 1, 2018
Answer to Question 1

Frozen fish sticks can be stored. If frozen fish sticks go on sale you can buy large quantities and store them in your freezer. Thus, you may be more sensitive to price changes in the short run.

Answer to Question 2

The elasticity of supply is very inelastic for fresh cut flowers. These flowers are perishable and quickly become worthless. The seller will accept almost any market price.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
« previous next »
 

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?

In 1864, the first barbiturate (barbituric acid) was synthesized.

Did you know?

No drugs are available to relieve parathyroid disease. Parathyroid disease is caused by a parathyroid tumor, and it needs to be removed by surgery.

Did you know?

Patients who cannot swallow may receive nutrition via a parenteral route—usually, a catheter is inserted through the chest into a large vein going into the heart.

Did you know?

It is difficult to obtain enough calcium without consuming milk or other dairy foods.

A lobe-finned fish, the coelacanth (Latimeria chalumnae) A lobe-finned fish, the coelacanth (Latimeria chalumnae)
Levels of Processing Affects Long-Term but not Short-Term Memory Levels of Processing Affects Long-Term but not Short-Term Memory
Draw and label a diagram and explain how a factor-dependent transcription (rho-dependent) terminator Draw and label a diagram and explain how a factor-dependent transcription (rho-dependent) terminator
Fish-shaped Perfume Bottle Fish-shaped Perfume Bottle
The demand for oil can be reduced significantly with the introduction of new higher vehicle mileage The demand for oil can be reduced significantly with the introduction of new higher vehicle mileage
Fish in the Ocean Fish in the Ocean
Video: Acid-base imbalances - metabolic acidosis and alkalosis

For a complete list of videos, visit our video library