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 247 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
Gracias!


meganmoser117

  • Member
  • Posts: 303
Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

 

Did you know?

The training of an anesthesiologist typically requires four years of college, 4 years of medical school, 1 year of internship, and 3 years of residency.

Did you know?

Oxytocin is recommended only for pregnancies that have a medical reason for inducing labor (such as eclampsia) and is not recommended for elective procedures or for making the birthing process more convenient.

Did you know?

Bisphosphonates were first developed in the nineteenth century. They were first investigated for use in disorders of bone metabolism in the 1960s. They are now used clinically for the treatment of osteoporosis, Paget's disease, bone metastasis, multiple myeloma, and other conditions that feature bone fragility.

Did you know?

Congestive heart failure is a serious disorder that carries a reduced life expectancy. Heart failure is usually a chronic illness, and it may worsen with infection or other physical stressors.

Did you know?

As of mid-2016, 18.2 million people were receiving advanced retroviral therapy (ART) worldwide. This represents between 43–50% of the 34–39.8 million people living with HIV.

For a complete list of videos, visit our video library