Ice cream can be frozen. In the short run the magnitude of the ...

[kfurse]

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.

[stanleka1]

Answer to Question 1

A

Answer to Question 2

A

[kfurse]

YES! Correct, THANKS for helping me on my review

[bdobbins]

Thanks for the timely response, appreciate it