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Author Question: See Scenario 4.1. What is Daniel's income-consumption curve? A) Pc = Pd B) Pc = Qc C) Qd = I ... (Read 80 times)

Deast7027

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on: Jul 1, 2018
See Scenario 4.1. What is Daniel's income-consumption curve?
 
  A) Pc = Pd
  B) Pc = Qc
  C) Qd = I - 3Qc
  D) Qc = Qd
  E) all of the above

Question 2

In the long run, new firms can enter an industry and so the supply elasticity tends to be
 
  A) more elastic than in the short run.
  B) less elastic than in the short run.
  C) perfectly elastic.
  D) perfectly inelastic.


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Chou

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

D

Answer to Question 2

A


Deast7027

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Reply 2 on: Jul 1, 2018
Great answer, keep it coming :)

aruss1303

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Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

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