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 82 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
Wow, this really help

skipfourms123

  • Member
  • Posts: 343
Reply 3 on: Yesterday
:D TYSM

« previous next »
 

Did you know?

Drug abusers experience the following scenario: The pleasure given by their drug (or drugs) of choice is so strong that it is difficult to eradicate even after years of staying away from the substances involved. Certain triggers may cause a drug abuser to relapse. Research shows that long-term drug abuse results in significant changes in brain function that persist long after an individual stops using drugs. It is most important to realize that the same is true of not just illegal substances but alcohol and tobacco as well.

Did you know?

In ancient Rome, many of the richer people in the population had lead-induced gout. The reason for this is unclear. Lead poisoning has also been linked to madness.

Did you know?

Methicillin-resistant Staphylococcus aureus or MRSA was discovered in 1961 in the United Kingdom. It if often referred to as a superbug. MRSA infections cause more deaths in the United States every year than AIDS.

Methicilli ...
Did you know?

Thyroid conditions may make getting pregnant impossible.

Did you know?

Medications that are definitely not safe to take when breastfeeding include radioactive drugs, antimetabolites, some cancer (chemotherapy) agents, bromocriptine, ergotamine, methotrexate, and cyclosporine.

Myocardial Oxygen supply and demand Myocardial Oxygen supply and demand
Product & Process Influences - Sterile Products Product & Process Influences - Sterile Products
Closed and Open Food Product Dating Closed and Open Food Product Dating
Overallocation of Labor to Farming When Farmworkers Are Paid Their Average Product Overallocation of Labor to Farming When Farmworkers Are Paid Their Average Product
Use the product rule to find derivative Use the product rule to find derivative
The profit, p(t), made at a fair depends on the price of the ticket, t. The profit is modelled ... The profit, p(t), made at a fair depends on the price of the ticket, t. The profit is modelled ...
Video: Phases of mitosis

For a complete list of videos, visit our video library