Given the information in Scenario 4.3, it would be correct to say ...

[Anajune7]

Given the information in Scenario 4.3, it would be correct to say that demand is:
 
  A) infinitely elastic.
  B) elastic, but not infinitely elastic.
  C) unit elastic (Ep = -1).
  D) inelastic, but not completely inelastic.
  E) completely inelastic.

Question 2

Under Scenario 18.1, suppose the body of water lies on an international boundary, and the fishermen speak a different language than the factory managers. The efficient outcome cannot be achieved if the cost of hiring translators for both parties:
 
  A) is less than 4,000.
  B) equals 5,000.
  C) is greater than 6,000.
  D) none of the above

[ky860224]

Answer to Question 1

D

Answer to Question 2

C

[Anajune7]

Great answer, keep it coming

[tkempin]

Thanks for the timely response, appreciate it