Ask Question, Ask an Expert

+61-413 786 465

info@mywordsolution.com

Ask Microeconomics Expert

Economics


Home >> Microeconomics

During World War II, the price of rubber went up considerably. The rise in price stimulated research for alternatives. For ex, today's automobile tires are almost entirely made from synthetic materials. As a result, the increase in the price of rubber eventually led to a very large drop in quantity demanded. This is an ex of how the price elasticity of demand:

A) falls the less specifically the good is defined.
B) rises the less specifically the good is defined.
C) falls the greater the time frame considered.
D) rises the greater the time frame considered.

Microeconomics, Economics

  • Category:- Microeconomics
  • Reference No.:- M971444

Have any Question?


Related Questions in Microeconomics

Question why is government spending an important factor in

Question: Why is government spending an important factor in economic stability? What actions might the federal government and the Federal Reserve take to give the economy a boost? What are these policies called? The resp ...

Question labor relationswrite a 4-5 page paper answering

Question: Labor Relations Write a 4-5 page paper answering the following questions: • What are the benefits of retaining qualified employees? • Explain the benefits of unionizing • How is labor relations used to establis ...

Question explain how an expansionary monetary policy

Question: Explain how an expansionary monetary policy affects interest rate and investment. Illustrate your answer using a diagram(s). The response must be typed, single spaced, must be in times new roman font (size 12) ...

Question suppose you were assigned the task of choosing a

Question: Suppose you were assigned the task of choosing a price that maximizes economic surplus in a market. What price would you choose? Why? The response must be typed, single spaced, must be in times new roman font ( ...

Question give an original concise but thorough answer to

Question: Give an original concise but thorough answer to the following questions. a. Compare the shareholder and stakeholder models of corporate governance. Which one seems to predominate today? What implications does t ...

Question - the federal government recently decided to raise

Question - The federal government recently decided to raise the excise tax on hard liquor. a. Graphically illustrate the effects of this tax on the market for hard liquor. b. Would a $1 increase in the excise tax on liqu ...

Question from mid-1996 to mid-1999 the personal saving rate

Question: From mid-1996 to mid-1999, the personal saving rate fell from 5% to 3%. What were the principal factors that caused this decline? The response must be typed, single spaced, must be in times new roman font (size ...

Question why would the fed choose to keep the funds rate

Question: Why would the Fed choose to keep the funds rate away from equilibrium for extended periods of time? In view of the performance of the economy after this occurred, explain why you would or would not expect the F ...

Question answer the following questions about government

Question: Answer the following questions about government and deficit. a. Explain the three distinctive features of government activities according to Heilbroner and Thurow? b. Why is government's budget (and debt) diffe ...

Question participation in the labor force is a personal

Question: Participation in the labor force is a personal decision that can be illustrated using indifference curves and budget constraints. A. Explain and show graphically why a person with non-labor income may choose no ...

  • 4,153,160 Questions Asked
  • 13,132 Experts
  • 2,558,936 Questions Answered

Ask Experts for help!!

Looking for Assignment Help?

Start excelling in your Courses, Get help with Assignment

Write us your full requirement for evaluation and you will receive response within 20 minutes turnaround time.

Ask Now Help with Problems, Get a Best Answer

Why might a bank avoid the use of interest rate swaps even

Why might a bank avoid the use of interest rate swaps, even when the institution is exposed to significant interest rate

Describe the difference between zero coupon bonds and

Describe the difference between zero coupon bonds and coupon bonds. Under what conditions will a coupon bond sell at a p

Compute the present value of an annuity of 880 per year

Compute the present value of an annuity of $ 880 per year for 16 years, given a discount rate of 6 percent per annum. As

Compute the present value of an 1150 payment made in ten

Compute the present value of an $1,150 payment made in ten years when the discount rate is 12 percent. (Do not round int

Compute the present value of an annuity of 699 per year

Compute the present value of an annuity of $ 699 per year for 19 years, given a discount rate of 6 percent per annum. As

Follow Us

© Copyright 2013-14 mywordsolution.com All rights reserved