This topic contains a solution. Click here to go to the answer

Author Question: Ice cream can be frozen. In the short run the magnitude of the own price elasticity of demand for ... (Read 249 times)

kfurse

  • Hero Member
  • *****
  • Posts: 590
Ice cream can be frozen. In the short run the magnitude of the own price elasticity of demand for ice cream:
 
  A) is higher than in the long run.
  B) is lower than in the short run.
  C) is the same as in the long run.
  D) does not depend on the fact that ice cream can be frozen.

Question 2

All of the payment to a factor of production will be economic rent when the factor of production has:
 
  A) an infinitely inelastic supply curve.
  B) an infinitely elastic supply curve.
  C) a constant, unit elastic supply curve.
  D) an infinitely inelastic demand curve.



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

stanleka1

  • Sr. Member
  • ****
  • Posts: 325
Answer to Question 1

A

Answer to Question 2

A




kfurse

  • Member
  • Posts: 590
Reply 2 on: Jul 1, 2018
Excellent


ghepp

  • Member
  • Posts: 361
Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

 

Did you know?

In the United States, congenital cytomegalovirus causes one child to become disabled almost every hour. CMV is the leading preventable viral cause of development disability in newborns. These disabilities include hearing or vision loss, and cerebral palsy.

Did you know?

Approximately 15–25% of recognized pregnancies end in miscarriage. However, many miscarriages often occur before a woman even knows she is pregnant.

Did you know?

By definition, when a medication is administered intravenously, its bioavailability is 100%.

Did you know?

Symptoms of kidney problems include a loss of appetite, back pain (which may be sudden and intense), chills, abdominal pain, fluid retention, nausea, the urge to urinate, vomiting, and fever.

Did you know?

Nearly 31 million adults in America have a total cholesterol level that is more than 240 mg per dL.

For a complete list of videos, visit our video library