This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: The short-run price elasticity of demand for refrigerators is relatively inelastic. Indicate ... (Read 42 times)

danielfitts88

  • Hero Member
  • *****
  • Posts: 535
on: Jul 1, 2018
The short-run price elasticity of demand for refrigerators is relatively inelastic.
 
  Indicate whether the statement is true or false

Question 2

For all goods, the long run demand curve is always more elastic than the short run demand curve.
 
  Indicate whether the statement is true or false


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

s.meritte

  • Sr. Member
  • ****
  • Posts: 306
Reply #1 on: Jul 1, 2018
Answer to Question 1

False. People can put off buying a refrigerator in the short run. Therefore demand is elastic in the short run.

Answer to Question 2

False. Goods that can be easily stored may have a more elastic short run demand curve than long run.


danielfitts88

  • Member
  • Posts: 535
Reply 2 on: Jul 1, 2018
YES! Correct, THANKS for helping me on my review

alvinum

  • Member
  • Posts: 317
Reply 3 on: Yesterday
Great answer, keep it coming :)

« previous next »
 

Did you know?

Hip fractures are the most serious consequences of osteoporosis. The incidence of hip fractures increases with each decade among patients in their 60s to patients in their 90s for both women and men of all populations. Men and women older than 80 years of age show the highest incidence of hip fractures.

Did you know?

The B-complex vitamins and vitamin C are not stored in the body and must be replaced each day.

Did you know?

More than 20 million Americans cite use of marijuana within the past 30 days, according to the National Survey on Drug Use and Health (NSDUH). More than 8 million admit to using it almost every day.

Did you know?

Vaccines prevent between 2.5 and 4 million deaths every year.

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.

A Tibetan wolf killed in 1938. Note the proportionately short legs A Tibetan wolf killed in 1938. Note the proportionately short legs
Effect of Perceived Price of a Drug on Placebo Analgesia Effect of Perceived Price of a Drug on Placebo Analgesia
Many ideologies stem from older theories. The ideas of the philosophers are simplified. Ideologies Many ideologies stem from older theories. The ideas of the philosophers are simplified. Ideologies
The air flowing into the engine can be directed through long or short runners for best performance ... The air flowing into the engine can be directed through long or short runners for best performance ...
Real Price of Oil, 1861–2010 Real Price of Oil, 1861–2010
Palpating for skin elasticity Palpating for skin elasticity
Video: Homologous chromosomes during prophase I - Animation

For a complete list of videos, visit our video library