Explain which of the following items in each pair is more price elastic? a) The demand for
Question:
a) The demand for a specific brand of toothpaste and the demand for toothpaste in general
b) The demand for gasoline in the short run and the demand for gasoline in the long run
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 66% (12 reviews)
a The demand for a specific brand is more elastic because the consumer can easily s...View the full answer
Answered By
Benish Ahmad
I'm a professional software engineer. I'm lectutrer at GCUF and I have 3 years of teaching experience. I'm looking forward to getting mostly computer science work including:
Programming fundamentals
Object oriented programming
Data structures
object oriented design and analysis
Database system
Computer networks
Discrete mathematics
Web application
I am expert in different computer languages such as C++, java, JavaScript, Sql, CSS, Python and C#. I'm also have excellent knowledge of essay writing and research. I have worked in other Freelancing website such as Fiverr and Upwork. Now I have finally decided to join the SolutionInn platform to continue with my explicit work of helping dear clients and students to achieve their academic dreams. I deliver plagiarism free work and exceptional projects on time. I am capable of working under high pressure.
5.00+
2+ Reviews
10+ Question Solved
Related Book For
Question Posted:
Students also viewed these Economics questions
-
Which of the following news items involves a short-run decision and which involves a long-run decision? Explain.
-
Multiple Choice Questions 1. In the long run, which of the following outcomes is most likely for a firm? a. Zero accounting profits but positive economic profits b. Zero accounting profits c....
-
Which of the following conditions would definitely cause a perfectly competitive company to shut down in the short run? Select one: a. P < MC b. P = MC < AC c. P < AVC d. P = MR e. None of the above...
-
1. Is religious training mandatory at all of the schools in question? 2. Does the Court see inevitable church-state entanglements if the Board were allowed to exercise jurisdiction over teachers in...
-
Refer to the information in Exercise. In Exercise HUDSON CO. Contribution Margin Income Statement For Year Ended December 31, 2015 Sales (9,600 units at $225 each) . . . . . . . . . . . . . . . ....
-
Deduce the structure of a compound with molecular formula C 6 H 14 O 2 that exhibits the following IR, 1 H NMR, and 13 C NMR spectra. 100 80 60 40 20 4000 3500 3000 2500 2000 1500 1000 Wavenumber...
-
The drag characteristics for a newly designed automobile having a maximum characteristic length of \(20 \mathrm{ft}\) are to be determined through a model study. The characteristics at both low speed...
-
You are the vice-president of finance of Sandy Alomar Corporation, a retail company. The company prepared two different schedules of gross margin for the first quarter ended March 31, 2008. These...
-
Convert the following C code to assembly: if (a b || c == 10) { . . . codel... } else { . . . code2... } ...more code...
-
Most managers adopt particular styles to simplify their decision making. This helps them make sense of information. Why do you think these styles are unreliable?
-
Which of the following three groups is likely to have the most, and which the least, price-elastic demand for membership in the Association of Business Economists? a) Students b) Junior executives c)...
-
Explain the difference between a positive and a negative network externality and give an example of each.
-
Give an example of a policy, a procedure, and a rule from an organization you work for or have worked for.
-
Complete the following table with the missing values. Sales Revenue - Blank Variable Cost Per Unit - $ 1 3 . 4 0 Contrubution Margin - Blank Fixed Costs - $ 7 4 4 . 4 4 4 . 0 0 Operating Income -...
-
Ivanhoe Company reports the following account balances at December 3 1 , 2 0 2 5 : Accounts payable $ 7 , 7 0 0 Accounts receivable 7 , 7 0 0 Cash 9 , 1 0 0 Intangible assets 2 1 , 9 0 0 Inventory 3...
-
Select the EXACT output from the following C++ statement(s). cout
-
Maintenance is highly recommended for operations that are dominated by its physical facilities such as power stations, hotels, airlines and petrochemical refineries (Slack, 2017) 1. Critically...
-
Evaluate the companys product lines massimo bread. Do you think the companys product lines are consistent or not? Explain why.
-
List a real-life application that can be modeled by the logistic differential equation.
-
B made an issue of 150,000 $1 ordinary shares at a premium of 20% the proceeds of which is received by cheque. What is the correct journal to record this? A. Bank Share capital Share premium B. Bank...
-
1. Arrow up or down: According to the law of demand, an increase in price ____ the quantity demanded. 2. From the following list, choose the variables that are held fixed in drawing a market demand...
-
1. Arrow up or down: According to the law of supply, an increase in price ___ the quantity supplied. 2. From the following list, choose the variables that are held fixed when drawing a market supply...
-
1. Arrow up or down: According to the law of supply, an increase in price ___ the quantity supplied. 2. From the following list, choose the variables that are held fixed when drawing a market supply...
-
Reflect on a group interview you've had: * Was there anything you struggled with in preparing for the peer interviews? * What would you have changed about your interview? What would you have kept the...
-
Please conduct comprehensive research on the status of Metaverse, Choose a company, an industry, a product, or a service, and Share the strategies being used in Metaverse to develop a competitive...
-
Renovation and Restoration of community Park project For Risk management plan External risk : Budget Fluctuations in local economy Environment disasters Internal Risk: Safety Not enough money, staff...
Study smarter with the SolutionInn App