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Author Question: The demand curves for gold in New York and Zurich can both be represented by a line with negative ... (Read 41 times)

khang

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  • Posts: 569
on: Jul 1, 2018
The demand curves for gold in New York and Zurich can both be represented by a line with negative slope, -b. When the price is zero the demand for gold is x ounces higher in New York than in Zurich.
 
  At the current price of gold the price elasticity of demand for gold in New York and Zurich is -3 and -4 respectively. The value of x equals A) a quarter of the current demand for gold in New York
  B) a third of the current demand for gold in New York
  C) a half of the current demand for gold in New York
  D) three-quarters of the current demand for gold in New York
  E) none of the above

Question 2

Pressure to redistribute the economic pie is strong when the economy is booming.
 
  Indicate whether the statement is true or false


rosiehomeworddo

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Reply #1 on: Jul 1, 2018
Answer to Question 1

A

Answer to Question 2

F


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