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 41 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
:D TYSM

marict

  • Member
  • Posts: 304
Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

« previous next »
 

Did you know?

The toxic levels for lithium carbonate are close to the therapeutic levels. Signs of toxicity include fine hand tremor, polyuria, mild thirst, nausea, general discomfort, diarrhea, vomiting, drowsiness, muscular weakness, lack of coordination, ataxia, giddiness, tinnitus, and blurred vision.

Did you know?

Signs and symptoms of a drug overdose include losing consciousness, fever or sweating, breathing problems, abnormal pulse, and changes in skin color.

Did you know?

Eat fiber! A diet high in fiber can help lower cholesterol levels by as much as 10%.

Did you know?

Astigmatism is the most common vision problem. It may accompany nearsightedness or farsightedness. It is usually caused by an irregularly shaped cornea, but sometimes it is the result of an irregularly shaped lens. Either type can be corrected by eyeglasses, contact lenses, or refractive surgery.

Did you know?

The most destructive flu epidemic of all times in recorded history occurred in 1918, with approximately 20 million deaths worldwide.

Red-bellied short-necked turtle Red-bellied short-necked turtle
The relationship between the permissible exposure limit (PEL), the short-term exposure limit (STEL), ... The relationship between the permissible exposure limit (PEL), the short-term exposure limit (STEL), ...
Classic Supply - Demand Curve Classic Supply - Demand Curve
China has relied on cheap coal to meet its demand for energy China has relied on cheap coal to meet its demand for energy
Short form of amino acids Short form of amino acids
Video: Glucagon (glycogenolysis and gluconeogenesis)

For a complete list of videos, visit our video library