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Author Question: When a good has a unitary price elasticity, consumer expenditures for the good A) change in the ... (Read 120 times)

Coya19@aol.com

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on: Jul 1, 2018
When a good has a unitary price elasticity, consumer expenditures for the good
 
  A) change in the same direction as a price change.
  B) change in the opposite direction to a price change, but not necessarily by the same percentage as the price change.
  C) do not change when the price of the good decreases.
  D) change in the opposite direction and by the same percentage as any price change.

Question 2

Supply curves for secondary supply resources (e.g., scrap metal) become:
 
  A) Steeper in the short run
  B) More elastic in the long run
  C) Steeper in the long run
  D) More inelastic in the short run


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ktidd

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

C

Answer to Question 2

C


Coya19@aol.com

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Reply 2 on: Jul 1, 2018
Thanks for the timely response, appreciate it

Jossy

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Reply 3 on: Yesterday
Wow, this really help

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