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% (9 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
-
Is the information system you proposed in your answer to question 7-6 of Collaboration Exercise 7 an application of CRM, ERP, or EAI? If so, which one and why? If not, explain why not. Go to...
-
What are some advantages and disadvantages of stock repurchases? AppendixLO1
-
Joeys Bike Shop sells new and used bicycle parts. Although a majority of its sales are cash sales, it makes a significant amount of credit sales. During 2016, its first year of operations, Joeys Bike...
-
Problem 13-21A Ratio analysis LO 13-5 Selected data for Finch Company for Year 3 follows: $ 191,000 $ 595,000 511,000 569,500 $1,675,500 Earnings (net income) Preferred stock (11,900 shares at $50...
-
A concrete corporation had cost of goods sold of $1,550,000 for the third quarter. The beginning inventory at cost was $155,000, and the ending inventory at cost amounted to $180,900. The inventory...
-
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?
-
Define the term research.
-
Could I obtain assistance with these . problems? 1. Find the coordinates of the turning points of the curve y=3x^4-8x^3-30x^2+72x+5. Determine the nature of these points. "Determine the nature"...
-
1 . In 1 9 6 0 the homeownership rate in the United States was 6 2 % . Is there evidence to indicate that the homeownership rate is now higher? To answer the question, the researchers sample 5 0 2...
-
A certain disease is classified into 4 stages that distinguish how developed the disease is. Researchers studying a new potential treatment recruited over 100 patients with varying stages of the...
-
1. (20) Let and Dor {abnm or 2n m} = Dand = {a"b" nm and 2n m}. Prove that Dor and Dand are both context-free.
-
Given n samples 1 , 2 , . . . , x 1 ,x 2 ,...,x N drawn independently from a Poisson distribution unknown parameter , find the MLE of . = = 1 MLE = i=1 n x i = = 1 MLE =n i=1 n x i = = 1 MLE = i=1 n...
-
Explain why asset impairments are difficult to identify and audit. How might a client or auditor use a valuation specialist in determining the fair value of property and equipment?
-
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...
-
A) If you ethically invested, what types of issues would you take into consideration? Do you think the returns on ethical investments are always lower than non-ethical investments? In what ways could...
-
Financial analysts must be wary of business acquisitions accounted for as pooling of interests because this method tends to inflate the: rate of return ratios. inventory turnover ratio. cash flow...
-
5. Discuss historical performance analysis. Address the methodology, areas to be evaluated and the corresponding ratios to the area. Describe how ratios are evaluated. That is, what are the ways we...
Study smarter with the SolutionInn App