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Author Question: Market clearing prices can be volatile in a market with inelastic demand and inelastic supply. ... (Read 72 times)

stephzh

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on: Jul 1, 2018
Market clearing prices can be volatile in a market with inelastic demand and inelastic supply.
 
  Indicate whether the statement is true or false

Question 2

__________ Theory claims that individuals seek to develop relationships that will maximize the benefits or profits and minimize the costs or deficits.
 
  a. Elbing
  b. Social Exchange
  c. Life Sciences
  d. Ostrich Effect


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nyrave

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

T The intersection of demand and supply will not move far in the quantity dimension, but can move up and down considerably in the price dimension. See Figure 18.1.

Answer to Question 2

B


stephzh

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Reply 2 on: Jul 1, 2018
Thanks for the timely response, appreciate it

alvinum

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Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

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