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

Author Question: Consider the market supply curve for an agricultural commodity, which is almost perfectly horizontal ... (Read 62 times)

Apple716

  • Full Member
  • ***
  • Posts: 157
on: Oct 12, 2022

Question 1

Consider an industry in which sellers are prepared to sell all they can at the current price. We could say that elasticity of supply is
◦ less than zero.
◦ less than one.
◦ equal to zero.
◦ infinite.
◦ between zero and one.

Question 2

Consider the market supply curve for an agricultural commodity, which is almost perfectly horizontal at the world price of $450 per tonne. We can conclude that sellers in this market
◦ will continue to supply the same quantity regardless of the price.
◦ will not be responsive to a change in the world price.
◦ will supply no amount of the product if the price rises above $450 per tonne.
◦ will supply an infinite amount of the product regardless of the price.
◦ will sell almost no amount of the product if the price drops below $450 per tonne.
Microeconomics ¦ Ragan ¦ 17th Edition
Buy Test-Bank


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by Apple716 on Oct 12, 2022

ealonif

  • Full Member
  • ***
  • Posts: 185
Reply #1 on: Oct 12, 2022
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 35% of students answer this correctly


Apple716

  • Member
  • Posts: 157
Reply 2 on: Oct 12, 2022
:D TYSM

jackie

  • Member
  • Posts: 324
Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

« previous next »
 

Did you know?

Chronic necrotizing aspergillosis has a slowly progressive process that, unlike invasive aspergillosis, does not spread to other organ systems or the blood vessels. It most often affects middle-aged and elderly individuals, spreading to surrounding tissue in the lungs. The disease often does not respond to conventionally successful treatments, and requires individualized therapies in order to keep it from becoming life-threatening.

Did you know?

This year, an estimated 1.4 million Americans will have a new or recurrent heart attack.

Did you know?

Children with strabismus (crossed eyes) can be treated. They are not able to outgrow this condition on their own, but with help, it can be more easily corrected at a younger age. It is important for infants to have eye examinations as early as possible in their development and then another at age 2 years.

Did you know?

Every flu season is different, and even healthy people can get extremely sick from the flu, as well as spread it to others. The flu season can begin as early as October and last as late as May. Every person over six months of age should get an annual flu vaccine. The vaccine cannot cause you to get influenza, but in some seasons, may not be completely able to prevent you from acquiring influenza due to changes in causative viruses. The viruses in the flu shot are killed—there is no way they can give you the flu. Minor side effects include soreness, redness, or swelling where the shot was given. It is possible to develop a slight fever, and body aches, but these are simply signs that the body is responding to the vaccine and making itself ready to fight off the influenza virus should you come in contact with it.

Did you know?

The longest a person has survived after a heart transplant is 24 years.

The Hepatic Portal Blood Supply The liver receives water, minerals, and nutrients from the digestive The Hepatic Portal Blood Supply The liver receives water, minerals, and nutrients from the digestive
Reconstruction Drawing of Trajan's Market Reconstruction Drawing of Trajan's Market
Who Oversees the Food Supply? Who Oversees the Food Supply?
The Kuznets Curve The Kuznets Curve
The original Supply and Demand graph The original Supply and Demand graph
A car wash reduced the price of a basic wash as a promotion and test of the market. With the ... A car wash reduced the price of a basic wash as a promotion and test of the market. With the ...
Video: The Hypothalamus: The Body's Thermostat (Human Thermostat)

For a complete list of videos, visit our video library