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 86 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
:D TYSM

kjohnson

  • Member
  • Posts: 330
Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

« previous next »
 

Did you know?

Approximately one in three babies in the United States is now delivered by cesarean section. The number of cesarean sections in the United States has risen 46% since 1996.

Did you know?

More than 4.4billion prescriptions were dispensed within the United States in 2016.

Did you know?

Patients should never assume they are being given the appropriate drugs. They should make sure they know which drugs are being prescribed, and always double-check that the drugs received match the prescription.

Did you know?

Blastomycosis is often misdiagnosed, resulting in tragic outcomes. It is caused by a fungus living in moist soil, in wooded areas of the United States and Canada. If inhaled, the fungus can cause mild breathing problems that may worsen and cause serious illness and even death.

Did you know?

It is widely believed that giving a daily oral dose of aspirin to heart attack patients improves their chances of survival because the aspirin blocks the formation of new blood clots.

Zonal wind speeds on Uranus. Shaded areas show the southern collar and its future northern counterpa Zonal wind speeds on Uranus. Shaded areas show the southern collar and its future northern counterpa
To help make good electrical contact with the terminals without doing any harm, select the ... To help make good electrical contact with the terminals without doing any harm, select the ...
Unregulated populations "J-shaped curve" Unregulated populations "J-shaped curve"
Normal frequency distribution, characterized by a bell-shaped curve Normal frequency distribution, characterized by a bell-shaped curve
Construct a Lorenz curve that shows income distribution in this society. Construct a Lorenz curve that shows income distribution in this society.
The Oxyhemoglobin Dissociation Curve The Oxyhemoglobin Dissociation Curve
Video: T cell receptors

For a complete list of videos, visit our video library