Homework Answers
Ans27) the correct option is d) both a and b
Ans28) the correct option is a) the higher the price the higher the quantity that the sellers are willing to supply.
Ans29) the correct option is b) the demand for its product is more inelastic due to an unavailability of substitutes
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cm Od these products are usually substitutes to the gas sales and the demand for gas...
pls answer all 4 QUESTION 1 A gas station opened up on stretch of highway where there are no other gas stations clo...
pls answer all 4
QUESTION 1 A gas station opened up on stretch of highway where there are no other gas stations close by. It is more likely to be able to set higher prices because a the demand for its product is more elastic due to an unavailability of substitutes b the demand for its product is more inelastic due to an unavailability of substitutes e the demand for its product is more inelastic due to an availability of...
QUESTION 17 Gas stations can price the products that they sell in their convenience store a...
QUESTION 17 Gas stations can price the products that they sell in their convenience store a little bit higher than other stores because a these products are usually substitutes to the gas sales and the demand for gas is inelastic ob these products are usually substitutes to the gas sales and the demand for gas is elastic c these products are usually complements to the gas sales and the demand for gas is elastic Od these products are usually complements...
QUESTION 35 A firewood supplier has a very seasonal demand for its product. Its transport trucks...
QUESTION 35 A firewood supplier has a very seasonal demand for its product. Its transport trucks Lay idle during the warmer parts of the year. It can exploit economies of scope if a. It merges with a manufacturer of wooden Christmas ornaments b. It turns into a rental trucking company during the warmer months for other seasonal producers such as ice-cream makers c It starts producing other seasonal products that would sell mostly during the warmer months such as rustic...
QUESTION 24 Strategy is O a. The art of matching the resources and capabilities of a...
QUESTION 24 Strategy is O a. The art of matching the resources and capabilities of a firm to the opportunities and risks in its environment Ob Developing a resource for the company that is both rare and valuable to create competitive advantage O . Making sure that the resource developed is non-fungible to create a sustainable advantage Od. All of the above QUESTION 25 An economist estimated the cross-price elasticity for peanut butter and bananas to be -1.5. Based on...
QUESTION 20 All these are characteristics of a monopoly except, a Has few substitutes b. Controls...
QUESTION 20 All these are characteristics of a monopoly except, a Has few substitutes b. Controls a large share of the market c. There is one seller of the product d Controls a small share of the market QUESTION 21 Assumptions that underlie the Resource-based View include a Resource heterogeneity b.Resource immobility c Barriers to entry d. Both a and b QUESTION 22 A demand curves describes a the amount of units a producer will sell at a given price...
pls answer all 4 A supply curve slopes upwards because a. the higher the price the...
pls
answer all 4
A supply curve slopes upwards because a. the higher the price the higher the quantity that the sellers are willing to supply b. the higher the price the lower the quantity that the sellers are willing to supply c. an increase in price brings the quantity sold down to zero Od the quantity supplied in insensitive to price QUESTION 6 A firm experiencing constant economies of scale will have a long-run average cost curve that is:...
Suppose that the price elasticity of demand of a good is -3. Its demand is _________...
Suppose that the price elasticity of demand of a good is -3. Its demand is _________ and the percentage change in its quantity demanded is ________ than the percentage change in its price. A. Elastic: Smaller B. Elastic: Greater C. Inelastic: Smaller D. Inelastic: Greater Which of the following is not a determinant of the price elasticity of demand? A. Availability of substitutes B. Degree of necessity C. Cost relative to income D. Availability of inputs With a(n) ______ demand,...
Principles of Economics Multiple choice short answer plz 15. Goods with many close substitutes tend to...
Principles of Economics Multiple choice short answer plz
15. Goods with many close substitutes tend to have a more elastic demands b. less elastic demands c price elasticities of demand that are unit elastic d. income elasticities of demand that are negative. 16. If the price elasticity of demand for a good is 4.0, then a 10 percent increase in price results in a a. 0.4 percent decrease in the quantity demanded. b. 2.5 percent decrease in the quantity demanded...
please answer the 3:) thanks Question completion Status: be -1.5. Based on this information, we know the goods...
please answer the 3:)
thanks
Question completion Status: be -1.5. Based on this information, we know the goods are An economist estimated the cross-price elasticity for peanut butter a complements b. inferior goods c. substitutes d. inelastic. QUESTION 33 Strategy is a. The art of matching the resources and capabilities of a firm to the opportunities and risks in its environment Ob Developing a resource for the company that is both rare and valuable to create competitive advantage c. Making...
If the market fora product is broadly defined, then there are few substitutes for the product and the demand for...
If the market fora product is broadly defined, then there are few substitutes for the product and the demand for the product is relatively inelastic. the expenditure on the good is likely to make up a large share of one's budget. there are many substitutes for the product and the demand for the product is relatively elastic. the good has many complements. An increase in the demand for green tea raises the price of apples from US$16 a kilo to...
pls answer all 4
QUESTION 1 A gas station opened up on stretch of highway where there are no other gas stations close by. It is more likely to be able to set higher prices because a the demand for its product is more elastic due to an unavailability of substitutes b the demand for its product is more inelastic due to an unavailability of substitutes e the demand for its product is more inelastic due to an availability of...
QUESTION 17 Gas stations can price the products that they sell in their convenience store a little bit higher than other stores because a these products are usually substitutes to the gas sales and the demand for gas is inelastic ob these products are usually substitutes to the gas sales and the demand for gas is elastic c these products are usually complements to the gas sales and the demand for gas is elastic Od these products are usually complements...
QUESTION 35 A firewood supplier has a very seasonal demand for its product. Its transport trucks Lay idle during the warmer parts of the year. It can exploit economies of scope if a. It merges with a manufacturer of wooden Christmas ornaments b. It turns into a rental trucking company during the warmer months for other seasonal producers such as ice-cream makers c It starts producing other seasonal products that would sell mostly during the warmer months such as rustic...
QUESTION 24 Strategy is O a. The art of matching the resources and capabilities of a firm to the opportunities and risks in its environment Ob Developing a resource for the company that is both rare and valuable to create competitive advantage O . Making sure that the resource developed is non-fungible to create a sustainable advantage Od. All of the above QUESTION 25 An economist estimated the cross-price elasticity for peanut butter and bananas to be -1.5. Based on...
QUESTION 20 All these are characteristics of a monopoly except, a Has few substitutes b. Controls a large share of the market c. There is one seller of the product d Controls a small share of the market QUESTION 21 Assumptions that underlie the Resource-based View include a Resource heterogeneity b.Resource immobility c Barriers to entry d. Both a and b QUESTION 22 A demand curves describes a the amount of units a producer will sell at a given price...
pls
answer all 4
A supply curve slopes upwards because a. the higher the price the higher the quantity that the sellers are willing to supply b. the higher the price the lower the quantity that the sellers are willing to supply c. an increase in price brings the quantity sold down to zero Od the quantity supplied in insensitive to price QUESTION 6 A firm experiencing constant economies of scale will have a long-run average cost curve that is:...
Principles of Economics Multiple choice short answer plz
15. Goods with many close substitutes tend to have a more elastic demands b. less elastic demands c price elasticities of demand that are unit elastic d. income elasticities of demand that are negative. 16. If the price elasticity of demand for a good is 4.0, then a 10 percent increase in price results in a a. 0.4 percent decrease in the quantity demanded. b. 2.5 percent decrease in the quantity demanded...
please answer the 3:)
thanks
Question completion Status: be -1.5. Based on this information, we know the goods are An economist estimated the cross-price elasticity for peanut butter a complements b. inferior goods c. substitutes d. inelastic. QUESTION 33 Strategy is a. The art of matching the resources and capabilities of a firm to the opportunities and risks in its environment Ob Developing a resource for the company that is both rare and valuable to create competitive advantage c. Making...
If the market fora product is broadly defined, then there are few substitutes for the product and the demand for the product is relatively inelastic. the expenditure on the good is likely to make up a large share of one's budget. there are many substitutes for the product and the demand for the product is relatively elastic. the good has many complements. An increase in the demand for green tea raises the price of apples from US$16 a kilo to...
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