Question
If the supply of oranges is unit elastic, the price elasticity of supply of oranges is...
If the supply of oranges is unit elastic, the price elasticity of supply of oranges is
a. 0.0.
b. -100.0.
c. -1.0.
d. 1.0.
Homework Answers
Answer #1
Not the answer you're looking for?
Similar Questions
Over time, the price elasticity of supply for sunglasses will become more: a. inelastic. b. unitary...
Over time, the price elasticity of supply for sunglasses will
become more:
a. inelastic.
b. unitary elastic.
c. unchanged.
d. elastic.
e. perfectly elastic.
If the price elasticity of supply is 2.5, we know that it
is:
a. perfectly elastic.
b. perfectly inelastic.
c. unitary elastic.
d. relatively inelastic.
e. relatively elastic.
Suppose a hurricane decreased the supply of oranges so that the price of oranges rose from...
Suppose a hurricane decreased the supply of oranges so that the
price of oranges rose from $120 a
ton to $180 a ton and quantity sold decreased from 800 tons to
240 tons. What is the absolute value
of the price elasticity of demand?
(64)Suppose that the quantity of oranges sold increases by 45 percent when the price of tangerines...
(64)Suppose that the quantity of oranges sold increases
by 45 percent when the price of tangerines increases by 25 percent.
What is the coefficient of cross price elasticity of demand for
these fruits?
(a)2.5
(b)3.2
(c)1.8
(d)0.3
(65)Given the coefficient of cross price elasticity of
demand for the fruits in Q#64 above, which of the following
statements is true?
(a)They are complements
(b)Their demand curve is negatively sloped
(c)Their cross elasticity of demand is negative
(d)None of the above
(66)Which...
What is perfectly elastic demand/supply? Draw a graph to represent perfectly elastic demand/supply. What is perfectly...
What is perfectly elastic demand/supply? Draw a graph to
represent perfectly elastic demand/supply.
What is perfectly inelastic demand/supply? Draw a graph to
represent perfectly elastic demand/supply.
When the price of t-shirts increases by 12 percent, the quantity
of t-shirts demanded falls by 20 percent. Calculate the price
elasticity of demand. Is the demand for t-shirts elastic,
inelastic, or unit elastic?
When the price of t-shirts falls by 30 percent, the quantity of
t-shirts supplied decreases by 20 percent. Calculate the...
Table 5.1 Price Elasticity and Cross Price Elasticity of Demand for Oranges ________________________________________________________________ &nbs
Table
5.1 Price Elasticity
and Cross Price Elasticity of Demand for Oranges
________________________________________________________________
Florida
Type of
Orange
Indian River
Florida Interior
California
Florida Indian
River
-3.07
+1.56
+0.01
Florida
Interior
+1.16
-3.01
+0.14
California
+10.18
+0.09
-2.76
From table 5.1 above, determine:
By how much the demand for Florida Indian River oranges
would change as a result of a 10% increase in the price of Florida
interior oranges.
By...
For this question, consider the market for oranges. Oranges are sold in dozens and the price...
For this question, consider the market
for oranges. Oranges are sold in dozens and the price is in
dollars/dozen. The market is defined by the following:
QD= 4000 – 150P
QS= 3600 = 120P
Calculate the price, the quantity demanded, and the quantity
supplied of oranges when the market is at equilibrium.
Calculate the price elasticity of demand for oranges at
equilibrium.
Calculate the price elasticity of supply at equilibrium.
1.If price rises by 20% and quantity demanded of rice falls by 100 pounds, the elasticity...
1.If price rises by 20% and quantity demanded of rice falls by
100 pounds, the elasticity of demand is : (1 point)
a. greater than 1
b. equal to -5
c. equal to -20
d. cannot be determined without additional information.
2.If quantity supplied responds only slightly to a change in
price, then: (1 point)
a. Supply is elastic
b. An increase in price will shift the supply curve to a large
extent
c. Supply is inelastic
d. Supply is...
Categories of Price Elasticity of Demand For each of the following values for price elasticity of...
Categories of Price Elasticity of Demand
For each of the following values for price elasticity of demand,
indicate whether demand is elastic, inelastic, perfectly elastic,
perfectly inelastic, or unit elastic. Also, indicate (increase,
decrease, no effect) what would happen to total revenue if a firm
raised the price in each elasticity range.
Price Elasticity of Demand
equals
Descriptionn of Elasticity
Total Revenue Change
-2.5
-1.0
-0.8
-infinity
0
(60)A perfectly inelastic demand curve has an elasticity coefficient of: (a)1 (b)0.25 (c)∞ (d)None of the...
(60)A perfectly inelastic demand curve has an elasticity
coefficient of:
(a)1
(b)0.25
(c)∞
(d)None of the above
Akal mn wahed
Extra Credit Questions-Optional
(61)If the percentage change in the quantity supplied of
a good is less than the percentage change in price, price
elasticity of supply is:
(a)Inelastic
(b)Perfectly inelastic
(c)Elastic
(d)Unitary elastic
(62)If the percentage change in the quantity demanded of
a good is equal to the percentage change in price, price elasticity
of demand is:
(a)Inelastic
(b)Perfectly inelastic...
Suppose that the elasticity of demand for insulin is 0.1, the elasticity of demand for oranges...
Suppose that the elasticity of demand for insulin is 0.1, the
elasticity of demand for oranges is 1.2, and the elasticity of
supply for insulin and oranges is 0.4. If the government imposes a
10 percent tax on both insulin and oranges, the decrease in the
quantity of oranges is ________ the decrease in the quantity of
insulin.
Group of answer choices
equals to
More information is needed to determine how the decrease in the
quantity of oranges compares to...
ADVERTISEMENT
Need Online Homework Help?
Get Answers For Free
Most questions answered within 1 hours.
ADVERTISEMENT
Active Questions
asked 6 minutes ago
asked 16 minutes ago
asked 17 minutes ago
asked 21 minutes ago
asked 25 minutes ago
asked 27 minutes ago
asked 45 minutes ago
asked 48 minutes ago
asked 56 minutes ago
asked 1 hour ago
asked 1 hour ago
asked 1 hour ago