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

Author Question: If a one percent increase in the population leads to a five percent increase in the quantity sold, ... (Read 135 times)

kaid0807

  • Hero Member
  • *****
  • Posts: 515
on: Jul 1, 2018
If a one percent increase in the population leads to a five percent increase in the quantity sold, an economist would claim
 
  A) the good is elastic with respect to population.
  B) the good is inelastic with respect to population.
  C) the good is a fad.
  D) consumers are misinformed about the quality of the product.

Question 2

The price elasticity of demand
 
  A) depends on the units in which quantity is measured.
  B) depends on the units in which price is measured.
  C) depends on the units in which money is measured.
  D) is independent of the units in which quantity and price are measured.
Microeconomics ¦ Perloff ¦ 8th Edition
Buy Test-Bank


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

tofugiraffe

  • Sr. Member
  • ****
  • Posts: 319
Reply #1 on: Jul 1, 2018
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
Answer Preview
Only 56% of students answer this correctly


kaid0807

  • Member
  • Posts: 515
Reply 2 on: Jul 1, 2018
:D TYSM

deja

  • Member
  • Posts: 332
Reply 3 on: Yesterday
Wow, this really help

« previous next »
 

Did you know?

Pink eye is a term that refers to conjunctivitis, which is inflammation of the thin, clear membrane (conjunctiva) over the white part of the eye (sclera). It may be triggered by a virus, bacteria, or foreign body in the eye. Antibiotic eye drops alleviate bacterial conjunctivitis, and antihistamine allergy pills or eye drops help control allergic conjunctivitis symptoms.

Did you know?

By definition, when a medication is administered intravenously, its bioavailability is 100%.

Did you know?

Ether was used widely for surgeries but became less popular because of its flammability and its tendency to cause vomiting. In England, it was quickly replaced by chloroform, but this agent caused many deaths and lost popularity.

Did you know?

Cucumber slices relieve headaches by tightening blood vessels, reducing blood flow to the area, and relieving pressure.

Did you know?

The first oncogene was discovered in 1970 and was termed SRC (pronounced "SARK").

Browning and Gunning demonstrated that placental transfer tissues increase plant reproductive succes Browning and Gunning demonstrated that placental transfer tissues increase plant reproductive succes
Anatomy of the Lotka-Volterra equations for predator-prey population growth. Anatomy of the Lotka-Volterra equations for predator-prey population growth.
Details of plant population biology from repeat photography: (a) saguaro cactus in MacDougal Crater, Details of plant population biology from repeat photography: (a) saguaro cactus in MacDougal Crater,
Continuous variation in a natural population Continuous variation in a natural population
China’s 8% annual increase in oil consumption China’s 8% annual increase in oil consumption
How to solve any percent efficiency problem How to solve any percent efficiency problem
Video: Endocytosis - pinocytosis, receptor mediated and Transcytosis

For a complete list of videos, visit our video library