The elasticity of supply for airplane travel one day in advance of the departure date is most likely to be A) between -1 and zero.
B) between zero and 1.
C) around 1.
D) substantially greater than 1. E) substantially lower than
-1.
Answer:
Option B is the right option.
The Elasticity of supply for airplane travel one day in advance of the departure date is most likely to be Between 0 and 1.
The elasticity of supply for airplane travel one day in advance of the departure date is...
The income elasticity of demand for foreign travel A. is likely to be larger than the income elasticity of demand for food. B. cannot be compared to the income elasticity of demand for food. C. is likely to be inelastic. D. is likely to be smaller than the income elasticity of demand for food. E. is likely to be negative.
Microeconomics question 1. Price elasticity of supply and price elasticity of demand are likely to be __________ in the __________ than in the __________. Select one: a. higher; short run; long run b. lower; long run; short run c. higher; long run; short run d. lower; past; future e. higher; past; future 2. If demand for a product is perfectly inelastic, a tax of $1 per unit imposed on sellers will Select one: a. not affect the market price of...
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if the demand elasticity for good X is 1.33 and the supply elasticity for X is .42 who will pay a greater share of a tax imposed on the market? a) producers b) consumers c) the government d) the tax will be shared equally between consumers and producers
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22. The price elasticity of demand measures the responsiveness of the change in the: A) quantity demanded to a change in the price. B) price to a change in the quantity demanded. C) lope re enterprise D) slope of the demand curve to a change in the quantity demanded. 23. The price of gasoline rises 5% and the quantity of gasoline purchased falls 1%. price elasticity of demand is equal to _______ and demand is described as _______ A) 0.2; inelastic B) 5; inelastic C) 0.2; elastic 24. For a...
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