question archive True or False : - When supply is perfectly inelastic, a change in demand has no effect on the price - The short-run elasticity of supply is larger than the long-run elasticity of supply because changes in equilibrium will adjust elasticity accordingly - When the price increases, total revenue always inceases because of the price effect: producers receive a higher price for the good - A swiffer floor sweeper and a broom would have a positive cross-price elasticity of demand - A key consideration as to whether the pruce elasticity of supply is elastic or inelastic is whether the good supplied is a luxury item
True or False : - When supply is perfectly inelastic, a change in demand has no effect on the price - The short-run elasticity of supply is larger than the long-run elasticity of supply because changes in equilibrium will adjust elasticity accordingly - When the price increases, total revenue always inceases because of the price effect: producers receive a higher price for the good - A swiffer floor sweeper and a broom would have a positive cross-price elasticity of demand - A key consideration as to whether the pruce elasticity of supply is elastic or inelastic is whether the good supplied is a luxury item
Subject:EconomicsPrice:2.88 Bought3
True or False :
- When supply is perfectly inelastic, a change in demand has no effect on the price
- The short-run elasticity of supply is larger than the long-run elasticity of supply because changes in equilibrium will adjust elasticity accordingly
- When the price increases, total revenue always inceases because of the price effect: producers receive a higher price for the good
- A swiffer floor sweeper and a broom would have a positive cross-price elasticity of demand
- A key consideration as to whether the pruce elasticity of supply is elastic or inelastic is whether the good supplied is a luxury item
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