Question

We can guess from lecture that the demand curve looks more like "stair steps" (as opposed...

We can guess from lecture that the demand curve looks more like "stair steps" (as opposed to a smooth line) when:

A. there are more buyers

B. demand is particularly elastic

C. there are fewer buyers

D. demand is particularly inelastic

Homework Answers

Answer #1

Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
. You have computer a market demand curve for X and it looks like this: QXd...
. You have computer a market demand curve for X and it looks like this: QXd = 30,000 -20PX - 8PY + 0.5M where PX is the price of X PY is the price of a related good Y M is the income of the buyers in the market. What can you say about the demand from good X from this demand curve? Given the above demand curve, how many of good X will consumer purchase when PX is $100...
You have computer a market demand curve for X and it looks like this:                 QXd...
You have computer a market demand curve for X and it looks like this:                 QXd = 30,000 -20PX - 8PY + 0.5M                 where PXis the price of X                                 PY is the price of a related good Y                                 M is the income of the buyers in the market.     What can you say about the demand from good X from this demand curve?
You have computer a market demand curve for X and it looks like this:                 QXd...
You have computer a market demand curve for X and it looks like this:                 QXd = 30,000 -20PX - 8PY + 0.5M                 where PXis the price of X                                 PY is the price of a related good Y                                 M is the income of the buyers in the market.     What can you say about the demand from good X from this demand curve?
number 10 A perfectly competitive producer’s demand curve is: a. downward sloping but more elastic than...
number 10 A perfectly competitive producer’s demand curve is: a. downward sloping but more elastic than the market-demand curve. b. also the market-demand curve. c. upward sloping. d. a vertical line. e. a horizontal line.
24. When demand is infinitely elastic (ceteris paribus), and there is technological advance which shifts the...
24. When demand is infinitely elastic (ceteris paribus), and there is technological advance which shifts the supply curve, we should expect that in this market a. none of the other answers are correct. b. equilibrium quantity declines. c. the supply curve moves leftward. d. the new equilibrium price remains unchanged. 25. The burden of a sales tax will fall most heavily upon the consumers when a. demand has unitary elasticity. b. supply is more elastic. c. demand is more elastic....
if Income increases and the demand for a product increases then we can conclude that A....
if Income increases and the demand for a product increases then we can conclude that A. prodct is an inferior product B. product is a normil product C. marginal unitity of the product will increase D. produch has an inelastic demand E. product has an elastic demand
From the following​ quotations, what, if​ anything, can you conclude about elasticity of​ demand? a. ​"Good...
From the following​ quotations, what, if​ anything, can you conclude about elasticity of​ demand? a. ​"Good weather resulted in record wheat harvests and sent wheat prices tumbling. The result has been disastrous for many wheat​ farmers." A. The demand has unit elasticity. B. The demand is inelastic. C. The demand is elastic. D. This quotation tells nothing about the elasticity of demand. b. ​"Ridership always went up when bus fares came​ down, but the increased patronage never was enough to...
1-As we move up the demand curve, the price elasticity of demand * A) increases B)...
1-As we move up the demand curve, the price elasticity of demand * A) increases B) decreases C) becomes unitary D) does not change 2-If the price of lemonade increases relative to the price of grape juice, the demand for: * A) grape juice will decrease. B) grape juice will increase. C) lemonade will decrease. D) lemonade will increase. 3-An increase in price will result in no change in total revenue if: * A) the percentage change in price is...
If a good is considered a necessity, we can expect the Price Elasticity of Demand (PED)...
If a good is considered a necessity, we can expect the Price Elasticity of Demand (PED) to be Highly elastic Highly inelastic Unit elastic Infinite None of the above When PED is highly inelastic, a price increase will result in An decrease in total revenue A movement toward a less elastic demand curve No change in total revenue An increase in total revenue The quantity effect If you were shirking during your group study session for this exam then you...
The demand curve facing a firm will be more elastic, a. the fewer the number of...
The demand curve facing a firm will be more elastic, a. the fewer the number of competing firms b. the more differentiated the product c. the more substitutes there are for its product d. the greater the firm's ability to control price Because of easy entry, monopolistically competitive firms will             a.         produce at the lowest ATC.             b.         charge a price equal to MC.             c.         earn an economic profit equal to zero in the long run.             d.        ...
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT