6 The price of a bell pepper increases from $1 to $1.20. Quantity supplied for bell...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
6 The price of a bell pepper increases from $1 to $1.20. Quantity supplied for bell peppers increases from 40 to 60. Price elasticity of supply for bell peppers is (A) 2.5 (B) 1.5 (C) 2.0 (D) 0.2 (E) 0.5 7 The price of a peach falls from $2 to $1.40. Quantity supplied for peaches falls from 100 to 85. Price elasticity of supply for peaches is (A) -0.5 (B) 2 (C) 0.3 (D) 0.15 (E) 0.5 8 Ifa sandwich shop can hire workers easily and the job does not require much training, sandwich ingredients are widely available and i used by other industries, and lots of retail space is available, price elasticity of supply for sandwiches is likely to be (A) greater than 1 (B) equal to 1 (C) less than 1 iFi negative If the price elasticity of demand for bananas is 2 in the short run. over the long run it is likely that price elasticity of demand for bananas will be (A) less than 2 (B) more than 2 (C) equal to 2 (D) less than 1 (E) seto 6 The price of a bell pepper increases from $1 to $1.20. Quantity supplied for bell peppers increases from 40 to 60. Price elasticity of supply for bell peppers is (A) 2.5 (B) 1.5 (C) 2.0 (D) 0.2 (E) 0.5 7 The price of a peach falls from $2 to $1.40. Quantity supplied for peaches falls from 100 to 85. Price elasticity of supply for peaches is (A) -0.5 (B) 2 (C) 0.3 (D) 0.15 (E) 0.5 8 Ifa sandwich shop can hire workers easily and the job does not require much training, sandwich ingredients are widely available and i used by other industries, and lots of retail space is available, price elasticity of supply for sandwiches is likely to be (A) greater than 1 (B) equal to 1 (C) less than 1 iFi negative If the price elasticity of demand for bananas is 2 in the short run. over the long run it is likely that price elasticity of demand for bananas will be (A) less than 2 (B) more than 2 (C) equal to 2 (D) less than 1 (E) seto
Expert Answer:
Answer rating: 100% (QA)
1 The price elasticity of supply for bell peppers can be calculated using the formula Price Elastici... View the full answer
Related Book For
Microeconomics
ISBN: 9781464146978
1st Edition
Authors: Austan Goolsbee, Steven Levitt, Chad Syverson
Posted Date:
Students also viewed these economics questions
-
MCQ questions: 1. An increase in oil prices, such as the oil shocks in the 70s, lead to _______ thereby causing ________ a movement along the AS curve; cost-push inflation a leftward shift in the AS...
-
Managing Scope Changes Case Study Scope changes on a project can occur regardless of how well the project is planned or executed. Scope changes can be the result of something that was omitted during...
-
a. Calculate the quick ratio of company B in FY2020. State what factors need to be considered when evaluating company B?s short-term liquidity and analyse the impact of these factors on the...
-
In December, Davis Company had the following cost flows: Required: 1. Prepare the journal entries to transfer costs from (a) Molding to Grinding, (b) Grinding to Finishing, (c) Finishing to Finished...
-
Consider a project to supply Sports Car Co. with 30,000 tons of screws annually for vehicle production. You will need an initial $4.3 million investment in equipment to get the project started; the...
-
How can computers be used to assist in the litigation process?
-
Assume that you are assigned the task of testing internal controls over financial reporting for the Van Jacobs Corporation year 2011 audit. Van Jacobs Corporation has a December 31 fiscal year end....
-
Discuss your understanding of the comparability problems in the valuation of financial assets.
-
The article What Readers Say about Marijuana (Parade, July 31, 1994, p. 16) reported More than 75% of the readers who took part in an informal PARADE telephone poll say marijuana should be as legal...
-
You are considering investing in one of the following two bonds. Discuss your thought process (supported by numbers) for making this decision. Be complete. Bond A: Bond B: Coupon 9%, annual payments...
-
In a company with high turnover issues, critically explain the steps involved in scope validation. Explain the inputs, tools, techniques and outputs utilised in planning for scope validation.
-
Down Under Products' sales budget for the next four months is as follows: Unit Sales April May June July 72,000 85,000 112,000 91,000 The company wants its ending inventory levels to equal 20% of the...
-
The COVID-19 pandemic continues to challenge governments and policymakers worldwide. They have rightfully prioritised reducing the spread of the virus through social distancing interventions....
-
Your agency has been directed by community leaders to develop and implement a community paramedic program targeting injury prevention among the elderly. You are now tasked with providing a briefing...
-
Some people (James Tobin was one) think that financial market transactions should be taxed. What are the arguments for and against? Would that somehow make the world a better place? Or would it just...
-
Let mit1 = x|t| = cas (20 fit) + 4 cas (6 t fit) mltl. 10.cas ( 217 fot! with fo >> fi be the modulating and the persband signal of a ASB-Sc communication signel system, respectively. and 1) Find It...
-
Reread the discussion leading to the result given in (7). Does the matrix sI - A always have an inverse? Discuss.
-
Carmen's preferences are such that she is always indifferent between watching two movies or seeing one basketball game. a. What must Carmen's indifference curves look like? b. Suppose that Carmen has...
-
Many gyms offer a mixed two-part tariff pricing scheme. One can join the gym and then have daily access at a very low cost (often, free); alternatively, one can choose not to join and pay a higher...
-
A local golf course's hired-gun econometrician has determined that there are two types of golfers, frequent and infrequent. Frequent golfers' annual demand for rounds of golf is given by Qf = 24 -...
-
Find the force transmitted to the base of a viscously damped system subjected to a harmonic force, in the steady state, by using the relation \(f_{T}=F_{0} \cos \omega t-m \ddot{x}\) instead of...
-
A single-story building frame is subjected to a harmonic ground acceleration, as shown in Fig. 3.57. Find the steady-state motion of the floor (mass \(m\) ). Figure 3.57:- 22 -x(t) m (!) - A cos cot...
-
Find the horizontal displacement of the floor (mass \(m\) ) of the building frame shown in Fig. 3.57 when the ground acceleration is given by \(\ddot{x}_{g}=100 \sin \omega t \mathrm{~mm} /...
Study smarter with the SolutionInn App