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

Author Question: The price elasticity of demand for product A is 2.32. The price elasticity of demand for product Z ... (Read 81 times)

sarasara

  • Hero Member
  • *****
  • Posts: 521
on: May 24, 2019
The price elasticity of demand for product A is 2.32.  The price elasticity of demand for product Z is 0.12.
This difference could be due to the fact that
◦ there are many good substitutes for product A and few substitutes for product Z.
◦ there are many good substitutes for product Z and few substitutes for product A.
◦ Product A is a necessity and product Z is a luxury.
◦ Product Z is a necessity and product A is a luxury.
◦ Both there are many good substitutes for product A and few substitutes for product Z and Product Z is a necessity and product A is a luxury are correct.
Foundations of Microeconomics ¦ Bade, Parkin ¦ 8th Edition
Buy Test-Bank


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by sarasara on May 24, 2019

ong527

  • Sr. Member
  • ****
  • Posts: 285
Reply #1 on: May 24, 2019
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
Answer Preview
Only 29% of students answer this correctly


sarasara

  • Member
  • Posts: 521
Reply 2 on: May 24, 2019
Gracias!

Zebsrer

  • Member
  • Posts: 284
Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

« previous next »
 

Did you know?

Coca-Cola originally used coca leaves and caffeine from the African kola nut. It was advertised as a therapeutic agent and "pickerupper." Eventually, its formulation was changed, and the coca leaves were removed because of the effects of regulation on cocaine-related products.

Did you know?

Individuals are never “cured” of addictions. Instead, they learn how to manage their disease to lead healthy, balanced lives.

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?

About 60% of newborn infants in the United States are jaundiced; that is, they look yellow. Kernicterus is a form of brain damage caused by excessive jaundice. When babies begin to be affected by excessive jaundice and begin to have brain damage, they become excessively lethargic.

Did you know?

The types of cancer that alpha interferons are used to treat include hairy cell leukemia, melanoma, follicular non-Hodgkin's lymphoma, and AIDS-related Kaposi's sarcoma.

An Oil-dependent World— Supply and Demand Driven An Oil-dependent World— Supply and Demand Driven
Wheat and Cotton Prices and Consumer Price Indexes, 1865–1896 Wheat and Cotton Prices and Consumer Price Indexes, 1865–1896
China has relied on cheap coal to meet its demand for energy China has relied on cheap coal to meet its demand for energy
The introduction of a new generation of electric and hybrid cars will reduce the demand for oil The introduction of a new generation of electric and hybrid cars will reduce the demand for oil
Importance of Considering Gestalt Principles in Product Design Importance of Considering Gestalt Principles in Product Design
Use the product rule to find derivative Use the product rule to find derivative
Video: Definition of heart rate

For a complete list of videos, visit our video library