Consider the following products: kitchen blenders fibre optic cable neurosurgery oil tankers sour cream doughnuts rental apartments
Question:
Consider the following products:
- kitchen blenders
- fibre optic cable
- neurosurgery
- oil tankers
- sour cream doughnuts
- rental apartments
a. Which of these would have the greatest supply elasticity in the short run? Why?
b. Which would have the least supply elasticity in the short run? Why?
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 66% (6 reviews)
a Of the products listed the ones with the greatest shor...View the full answer
Answered By
Amit Kumar
I am a student at IIT Kanpur , which is one of the prestigious colleges in INDIA.
Cleared JEE Advance in 2017.I am a flexible teacher because I understand that all students learn in different ways and at different paces. When teaching, I make sure that every student has a grasp of the subject before moving on.
I will help student to get the basic understanding clear. I believe friendly behavior with student can help both the student and the teacher.
I love science and my students do the same.
4.90+
44+ Reviews
166+ Question Solved
Related Book For
Question Posted:
Students also viewed these Business questions
-
Consider the following four products: Toothbrush Electric can opener Grandfather clock One-gallon container of milk (a) Which of these products would you expect to be associated with the greatest...
-
On which of these would wage income be reported? a. Schedule 1 b. Schedule 2 c. Schedule 4 d. Form 1040
-
The demand curve for ice cream in a small town has been stable for the past few years. In most months, when the equilibrium price is $3 per serving for the most popular ice cream, customers buy 300...
-
Write Python program which implements the following two classical cryptosystem a) Affine Cipher b) Vigenere Cipher Your program should consist of at least five functions: a) Two functions named...
-
The signal in Fig. 17.76(a) is applied to the circuit in Fig. 17.76(b). Find vo(t). 2v 1
-
In Problems 21-38, guess the requested limits. \(\lim _{n ightarrow \infty} \frac{n+1}{2 n}\)
-
True or False: Multiple roots can exist when using IRR and MIRR methods.
-
Refer to Problem 21. Assume that management desires a 12-day project completion time. a. Formulate a linear programming model that can be used to assist with the crashing decisions. b. What...
-
Define the general - purpose financial statements and points out the limitation of such statements.
-
Joy Wu, a PA, is planning her first audit of a closely held small business. In prior years, Wu compiled the financial statements of the company. She also helped to set up its accounting system and...
-
Assume you have the following information for the global market for agricultural commodity X. For each scenario, use demand and supply analysis to provide a likely explanation for the change in...
-
What is the primary defining feature of business cycles?
-
Equipment was acquired at the beginning of the year at a cost of $324,000. The equipment was depreciated using the double-declining-balance method based on an estimated useful life of eight years and...
-
From the following balances of M/s Nilu Sarees as on March 31, 2005. Prepare trading and profit and loss account and balance sheet as on date. Closing stock as on March 31, 2005 Rs.22,000. Account...
-
Table 8.5 shows the probability distribution of X for n = 2. Show that the average of the random variable X is 3.5. What is the standard deviation of X? Table 8.5 X 1.5 2 2.5 3 3.5 4 4.5 5 5.5 P(X)...
-
Assume that 80%of the employees are union members, whereas 20%are not. In the last year, 100 of 500 employees were randomly selected to receive a working bonus. If the company does not discriminate...
-
Prepare trading and profit and loss account from the following particulars of M/s Neema Traders as on March 31, 2005. Stock on March 31, 2005 Rs.16,000. Account Title Buildings Plant Carriage inwards...
-
Consider boiling water to make a pot of tea. Say it takes roughly 10 min to bring 1 L of H2O taken from the tap at 25C to boil. What is the total heat input, Q? What is the rate of heat input, Q?
-
A log splitter uses a pump with hydraulic oil to push a piston, which is attached to a chisel. The pump can generate a pressure of 2.0 107 Pa in the hydraulic oil, and the piston has a radius of...
-
Define cultural intelligence. Cite the books or journal articles you found in Capella's library. Explain why cultural intelligence is important for HR practitioners and other organizational managers.
-
The following table shows the demand schedule for PlayStation video games. a. Compute total expenditure for each row in the table. b. Plot the demand curve and the total expenditure curve. c. Compute...
-
Consider the market for straw hats on a tropical island. The demand and supply schedules are given below. a. The equilibrium price for straw hats is ________. The equilibrium quantity demanded and...
-
This question relates to the section Linkages Between Markets found on the www.myEconLab (www.myeconlab. com). In 1994, the Quebec and Ontario governments significantly reduced their excise taxes on...
-
1) We have started the process to extradite the people responsible for the OPM incident. We need to cross all of our Ts and dot all of our Is. So, you need to use the information from your readings...
-
dy Cos 4x and it passes thru (TT, 7). A curve has de Cos 4x and it Find the equation of the curve.
-
Write the following as an inequality. -9 is less than x, and 6 is greater than or equal to x Use x only once in your inequality.
Study smarter with the SolutionInn App