This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: Suppose the long-run cost function is C = 2q2. What is the cost-output elasticity for this case? ... (Read 124 times)

KWilfred

  • Hero Member
  • *****
  • Posts: 570
on: Jul 1, 2018
Suppose the long-run cost function is C = 2q2. What is the cost-output elasticity for this case?
 
  A) 1
  B) 2
  C) 1/2
  D) 4

Question 2

Jon's income-consumption curve is a straight line from the origin with a positive slope. Now suppose that Jon's preferences change such that his income-consumption curve remains a straight line but rotates 15 degrees clockwise.
 
  Jon's demand curve for the good on the horizontal axis A) will shift left.
  B) will shift right.
  C) will not change.
  D) might do any of the above.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

bhavsar

  • Sr. Member
  • ****
  • Posts: 351
Reply #1 on: Jul 1, 2018
Answer to Question 1

B

Answer to Question 2

B


KWilfred

  • Hero Member
  • *****
  • Posts: 570
Reply #2 on: Jul 1, 2018
Thank you :)


bhavsar

  • Sr. Member
  • ****
  • Posts: 351
Reply #3 on: Jul 1, 2018
Happy to help you


« previous next »
 

Did you know?

Amphetamine poisoning can cause intravascular coagulation, circulatory collapse, rhabdomyolysis, ischemic colitis, acute psychosis, hyperthermia, respiratory distress syndrome, and pericarditis.

Did you know?

The most dangerous mercury compound, dimethyl mercury, is so toxic that even a few microliters spilled on the skin can cause death. Mercury has been shown to accumulate in higher amounts in the following types of fish than other types: swordfish, shark, mackerel, tilefish, crab, and tuna.

Did you know?

According to the Migraine Research Foundation, migraines are the third most prevalent illness in the world. Women are most affected (18%), followed by children of both sexes (10%), and men (6%).

Did you know?

Many of the drugs used by neuroscientists are derived from toxic plants and venomous animals (such as snakes, spiders, snails, and puffer fish).

Did you know?

The word drug comes from the Dutch word droog (meaning "dry"). For centuries, most drugs came from dried plants, hence the name.

Went and Briggs demonstrated the relationship between light perception and auxin function. Went and Briggs demonstrated the relationship between light perception and auxin function.
Relations Between Iconic Memory, Short-Term Memory, and Long-Term Memory Relations Between Iconic Memory, Short-Term Memory, and Long-Term Memory
How to use L’Hospital’s Rule to find the limit of a function (Part 1) How to use L’Hospital’s Rule to find the limit of a function (Part 1)
How to find the domain of a function (Part 3) How to find the domain of a function (Part 3)
Cost of Going to School Cost of Going to School
Structure and function of human teeth. Structure and function of human teeth.
Video: Protein catabolism (Krebs cycle) and Protein anabolism (protein synthesis)

For a complete list of videos, visit our video library