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

Author Question: If the demand curve for a good always has unitary price elasticity, what does this imply about ... (Read 96 times)

vicotolentino

  • Hero Member
  • *****
  • Posts: 552
on: Mar 14, 2021

Question 1

If the cross price elasticity of two goods is -3.5, then
◦ these two products are relatively elastic substitutes.
◦ these two products are relatively inelastic substitutes.
◦ these two products are relatively elastic complements.
◦ these two products are relatively inelastic complements.

Question 2

If the demand curve for a good always has unitary price elasticity, what does this imply about consumer behavior?
◦ Consumers do not react to a price change.
◦ Consumers will spend a constant total amount on the good.
◦ Consumers are irrational.
◦ Consumers do not obey the Law of Demand.
Managerial Economics and Strategy ¦ Perloff, Brander ¦ 3rd Edition
Buy Test-Bank


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by vicotolentino on Mar 14, 2021

cici

  • Sr. Member
  • ****
  • Posts: 325
Reply #1 on: Mar 14, 2021
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 56% of students answer this correctly


vicotolentino

  • Member
  • Posts: 552
Reply 2 on: Mar 14, 2021
Thanks for the timely response, appreciate it

alexanderhamilton

  • Member
  • Posts: 334
Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

« previous next »
 

Did you know?

The U.S. Preventive Services Task Force recommends that all women age 65 years of age or older should be screened with bone densitometry.

Did you know?

IgA antibodies protect body surfaces exposed to outside foreign substances. IgG antibodies are found in all body fluids. IgM antibodies are the first type of antibody made in response to an infection. IgE antibody levels are often high in people with allergies. IgD antibodies are found in tissues lining the abdomen and chest.

Did you know?

The average office desk has 400 times more bacteria on it than a toilet.

Did you know?

The shortest mature adult human of whom there is independent evidence was Gul Mohammed in India. In 1990, he was measured in New Delhi and stood 22.5 inches tall.

Did you know?

More than 150,000 Americans killed by cardiovascular disease are younger than the age of 65 years.

Myocardial Oxygen supply and demand Myocardial Oxygen supply and demand
Effect of Perceived Price of a Drug on Placebo Analgesia Effect of Perceived Price of a Drug on Placebo Analgesia
Many ideologies stem from older theories. The ideas of the philosophers are simplified. Ideologies Many ideologies stem from older theories. The ideas of the philosophers are simplified. Ideologies
The paper test involves holding a piece of paper near the tailpipe of an idling engine. A good ... The paper test involves holding a piece of paper near the tailpipe of an idling engine. A good ...
Dried fruits are good source of sulfur Dried fruits are good source of sulfur
Suppose a country imports televisions. The country's supply and demand curves are shown in ... Suppose a country imports televisions. The country's supply and demand curves are shown in ...
Video: DNA close up Animation

For a complete list of videos, visit our video library