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 13 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
Excellent

sultansheikh

  • Member
  • Posts: 335
Reply 3 on: Yesterday
:D TYSM

« previous next »
 

Did you know?

Amphetamine poisoning can cause intravascular coagulation, circulatory collapse, rhabdomyolysis, ischemic colitis, acute psychosis, hyperthermia, respiratory distress syndrome, and pericarditis.

Did you know?

The familiar sounds of your heart are made by the heart's valves as they open and close.

Did you know?

During pregnancy, a woman is more likely to experience bleeding gums and nosebleeds caused by hormonal changes that increase blood flow to the mouth and nose.

Did you know?

The training of an anesthesiologist typically requires four years of college, 4 years of medical school, 1 year of internship, and 3 years of residency.

Did you know?

Signs and symptoms that may signify an eye tumor include general blurred vision, bulging eye(s), double vision, a sensation of a foreign body in the eye(s), iris defects, limited ability to move the eyelid(s), limited ability to move the eye(s), pain or discomfort in or around the eyes or eyelids, red or pink eyes, white or cloud spots on the eye(s), colored spots on the eyelid(s), swelling around the eyes, swollen eyelid(s), and general vision loss.

A Tibetan wolf killed in 1938. Note the proportionately short legs A Tibetan wolf killed in 1938. Note the proportionately short legs
Levels of Processing Affects Long-Term but not Short-Term Memory Levels of Processing Affects Long-Term but not Short-Term Memory
A track inside an ignition coil is not a short, but rather it is a low-resistance path or hole that ... A track inside an ignition coil is not a short, but rather it is a low-resistance path or hole that ...
Short-wavelength flux is reflected by Earth Short-wavelength flux is reflected by Earth
Palpating for skin elasticity Palpating for skin elasticity
The retail price of a packaged CD is $60.00, which includes a tax of 4%. What is the actual ... The retail price of a packaged CD is $60.00, which includes a tax of 4%. What is the actual ...
Video: Baroreceptor Reflex

For a complete list of videos, visit our video library