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 95 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
Gracias!

emsimon14

  • Member
  • Posts: 344
Reply 3 on: Yesterday
Great answer, keep it coming :)

« previous next »
 

Did you know?

The average human gut is home to perhaps 500 to 1,000 different species of bacteria.

Did you know?

Vaccines prevent between 2.5 and 4 million deaths every year.

Did you know?

The Centers for Disease Control and Prevention has released reports detailing the deaths of infants (younger than 1 year of age) who died after being given cold and cough medications. This underscores the importance of educating parents that children younger than 2 years of age should never be given over-the-counter cold and cough medications without consulting their physicians.

Did you know?

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

Did you know?

Human neurons are so small that they require a microscope in order to be seen. However, some neurons can be up to 3 feet long, such as those that extend from the spinal cord to the toes.

Primary production increases with an increase in total phosphorus concentration. Primary production increases with an increase in total phosphorus concentration.
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,
Worldwide Variations in Population and Income Levels Developed countries represent only 18% of the Worldwide Variations in Population and Income Levels Developed countries represent only 18% of the
Using the voltmeter leads from a starting and charging test unit to measure the voltage drop ... Using the voltmeter leads from a starting and charging test unit to measure the voltage drop ...
Effect of an Increase in Technological Progress Effect of an Increase in Technological Progress
The Great Spike in World Population Growth The Great Spike in World Population Growth
Video: Ear Animation

For a complete list of videos, visit our video library