Homework Answers
It is false.
All else equal, Consumer demand for a good will be more Inelastic in the short-run than in the long-run.
Answer-4 The correct option is Inelastic; higher; elastic.
There exists positive relationship between price and total revenue when the demand is Inelastic.
Add Answer to:
All else equal, consumer demand for a good will be more elastic in the short run...
More than one answer can be chosen for this question. Check all that apply What is...
More than one answer can be chosen for this question. Check all
that apply
What is the basic idea behind “price discrimination”? Sellers want to charge higher prices to consumers with inelastic demand and offer lower prices to consumers with elastic demand. Sellers want to offer lower prices to consumers with inelastic demand and charge higher prices to consumers with elastic demand. Sellers want to offer lower prices to consumers who demonstrate brand loyalty. Sellers want to charge higher prices...
Demand is more elastic: a. in the short run than in the long run. b. for...
Demand is more elastic: a. in the short run than in the long run. b. for goods with many substitutes than for goods with only a few. c. for goods with no substitutes. d. for necessities than for luxuries. e. for broadly defined goods than for narrowly defined ones. All other things constant, if a _____ proportion of a consumer’s budget is spent on a good, the demand for the good will be more _____ and a consumer will purchase...
O Aflat demand curve is always more elastic than a steep one Question 16 1 pts...
O Aflat demand curve is always more elastic than a steep one Question 16 1 pts 16. In general, a demand curve becomes more inelastic when more substitutes are available to consumers O consumers spend a larger share of income on the good we are focusing on a shorter period of time better technology are available to the producers Question 17 1 nts
In the long run, both supply and demand tend to become more elastic. This suggests that,...
In the long run, both supply and demand tend to become more elastic. This suggests that, in the long run, the deadweight loss from a tax will be less than it is in the short run. deadweight loss will be zero. government will likely reduce tax rates. tax revenue will be lower than it is in the short run. tax revenue will be higher than it is in the short run.
15.Demand tends to be more elastic when A. price is high, and more inelastic when price...
15.Demand tends to be more elastic when A. price is high, and more inelastic when price is low. B. price is low, and more inelastic when price is high. C. the demand curve is very steep. D. the quantity demanded is larger. 16.If increasing the admission charge for National Parks increases the National Park Service’s total revenue, then the demand for National Park visits is A.inelastic. B.elastic, but not perfectly elastic. C.perfectly elastic. D.a perfectly horizontal line. 20. When consumers’...
(1)Product differentiation makes the demand for a monopolistically competitive firm’s product A perfectly elastic. B more...
(1)Product differentiation makes the demand for a monopolistically competitive firm’s product A perfectly elastic. B more elastic than in a competitive market. C perfectly inelastic. D less elastic than that of a monopoly. E less elastic than in a competitive market. 2. Successful advertising under monopolistic competition might A help consumers understand why products in the industry are homogeneous. B reduce the price elasticity of demand for that firm’s output. C create a high barrier to entry. D make the...
Businesses can “price discriminate” by charging a higher price to buyers with more inelastic demand, and...
Businesses can “price discriminate” by charging a higher price to buyers with more inelastic demand, and a lower price to buyers with more elastic demand. Supermarkets and department stores do this with coupons, for example. Coupon-clippers have more-elastic demand, so they’re willing to spend time clipping coupons in order to get the lower price. People who are not eager to use coupons, on the other hand, have less-elastic demand and so they’re OK with paying the higher non-discounted prices. In...
ANSWER WITH EXPLANATION PLEASE A1) The demand will be _______________ if the consumer has _________ substitute...
ANSWER WITH EXPLANATION PLEASE A1) The demand will be _______________ if the consumer has _________ substitute goods to choose from A) more elastic; less B) more inelastic; more C) more elastic; more D) more inelastic; less A2) It is easiest for new firms to enter a A) Perfectly competitive market. B) Duopoly market. C) Oligopoly market. D) Monopoly market. A3) A perfectly competitive firm A) Has the market power to compete effectively. B) Is large enough relative to the market to be taken into account by competitors. C) Confronts a...
Demand is likely to be more price-elastic: (Check all that apply.) When the price of the...
Demand is likely to be more price-elastic: (Check all that apply.) When the price of the good is a larger portion of your income In the short run than in the long run When fewer substitutes are available When there are more competing firms selling similar goods
Please Help Question 5 0.16 pts Markup would not exist in O a monopoly monopolistic competition....
Please Help
Question 5 0.16 pts Markup would not exist in O a monopoly monopolistic competition. O an oligopoly a cartel. O a competitive market. Question 6 0.16 pts prices than can be reached under perfect competition, Despite monopolistic competition results in any other market. variety than can be reached in O higher; less O more inefficient; more excessive O higher; greater O lower: less O lower: greater Question 7 0.16 pts The mayor of Stockville is seeking reelection and...
More than one answer can be chosen for this question. Check all
that apply
What is the basic idea behind “price discrimination”? Sellers want to charge higher prices to consumers with inelastic demand and offer lower prices to consumers with elastic demand. Sellers want to offer lower prices to consumers with inelastic demand and charge higher prices to consumers with elastic demand. Sellers want to offer lower prices to consumers who demonstrate brand loyalty. Sellers want to charge higher prices...
O Aflat demand curve is always more elastic than a steep one Question 16 1 pts 16. In general, a demand curve becomes more inelastic when more substitutes are available to consumers O consumers spend a larger share of income on the good we are focusing on a shorter period of time better technology are available to the producers Question 17 1 nts
Please Help
Question 5 0.16 pts Markup would not exist in O a monopoly monopolistic competition. O an oligopoly a cartel. O a competitive market. Question 6 0.16 pts prices than can be reached under perfect competition, Despite monopolistic competition results in any other market. variety than can be reached in O higher; less O more inefficient; more excessive O higher; greater O lower: less O lower: greater Question 7 0.16 pts The mayor of Stockville is seeking reelection and...
Most questions answered within 3 hours.
-
By using Arduino write a code that connects two LEDs to two
push-buttons. Each button controls...
asked 31 minutes ago -
Bank of America has bonds that pay a coupon interest rate of 5.5
percent and mature...
asked 1 hour ago -
Problem: Patient Fees C++
You are to write a program that computes a patient’s bill for...
asked 2 hours ago -
In a population of interest, we know that, 77% drink coffee, and
23% drink tea. Assume...
asked 3 hours ago -
Given that f(x) = e-(x-1) for x > 1, determine the following
probabilities:
a) P(X <...
asked 3 hours ago -
A mechanic pushes a 2.60 ✕ 103-kg car from rest to a speed of v,
doing...
asked 3 hours ago -
International information systems result in all of the following
except:
A. improved quality of information flow....
asked 2 hours ago -
The president of the retailer Prime Products has just approached
the company’s bank with a request...
asked 3 hours ago -
If the carrying amount is $200,000 and recoverable amount is
$205000, the impairment amount is:
Select...
asked 3 hours ago -
The correlation is inappropriate as a measure of association
between two quantitative variables (you may select...
asked 3 hours ago -
USE THE DATA IN THE TABLE BELOW TO ANSWER QUESTIONS 19 – 24
(Assume all account...
asked 3 hours ago -
Mahaley, Inc., manufactures and sells two products: Product Q9
and Product F0. Data concerning the expected...
asked 3 hours ago