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Author Question: The rising price of oil has made it feasible to extract oil out of oily sand in Canada. Concerning ... (Read 168 times)

tichca

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The rising price of oil has made it feasible to extract oil out of oily sand in Canada. Concerning the oil market this is an example of
 
  A) a higher price elasticity of supply in the long run.
  B) a higher price elasticity of supply in the short run.
  C) a higher price elasticity of demand in the short run.
  D) an inelastic long-run supply of oil.

Question 2

In the mid-1980s, the salaries of accounting professors with Ph.D.s increased dramatically. This resulted in an increase in enrollments in Ph.D. accounting programs. Since a Ph.D. degree in accounting may take at least four years to complete, the short-run elasticity of supply of accounting professors is
 
  A) greater than the long-run-elasticity of supply.
  B) less than the long-run elasticity of supply.
  C) equal to the long-run elasticity of supply.
  D) equal to the short-run elasticity of demand.


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ju

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tichca

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Reply 2 on: Jul 1, 2018
:D TYSM


sultansheikh

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Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

 

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