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 40 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
Great answer, keep it coming :)

Dnite

  • Member
  • Posts: 297
Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

« previous next »
 

Did you know?

For high blood pressure (hypertension), a new class of drug, called a vasopeptidase blocker (inhibitor), has been developed. It decreases blood pressure by simultaneously dilating the peripheral arteries and increasing the body's loss of salt.

Did you know?

ACTH levels are normally highest in the early morning (between 6 and 8 A.M.) and lowest in the evening (between 6 and 11 P.M.). Therefore, a doctor who suspects abnormal levels looks for low ACTH in the morning and high ACTH in the evening.

Did you know?

Each year in the United States, there are approximately six million pregnancies. This means that at any one time, about 4% of women in the United States are pregnant.

Did you know?

Approximately 500,000 babies are born each year in the United States to teenage mothers.

Did you know?

Acetaminophen (Tylenol) in overdose can seriously damage the liver. It should never be taken by people who use alcohol heavily; it can result in severe liver damage and even a condition requiring a liver transplant.

Patent medicines contained a name brand that clearly identified the product and claimed to cure just ... Patent medicines contained a name brand that clearly identified the product and claimed to cure just ...
The growth in demand for energy use is met by burning fossil fuels The growth in demand for energy use is met by burning fossil fuels
The growing demand for electrical power, carbon sequestration and storage must be a priority The growing demand for electrical power, carbon sequestration and storage must be a priority
The demand for oil can be reduced significantly with the introduction of new higher vehicle mileage The demand for oil can be reduced significantly with the introduction of new higher vehicle mileage
The demand for cheap coal to generate electrical power is rising The demand for cheap coal to generate electrical power is rising
Real Price of Oil, 1861–2010 Real Price of Oil, 1861–2010
Video: ACTH/Cortisol (glycogenolysis, protein catabolism, lipolysis and gluconeogenesis)

For a complete list of videos, visit our video library