【題目】 Under which of the following conditions would the interdiction of illegal drugs result in a decrease in the quantity of drugs sold and in a decrease in total spending on illegal drugs by drug users? The price elasticity of demand for illegal drugs is 1.3.
【題目】 In long-run equilibrium of a competitive market, the number of firms in the markets adjusts so that all of the market demand is satisfied at a price equal to 答案 minimum average total cost
【題目】 A simple linear demand function may be stated as Q= a-bP+cI where Q is quantity demanded , P is the product price, and I is consumer income. To compute an appropriate value for c, we can use observed values for Q and I and then set the estimated income elasticity of demand equal to. 【答 ...
【題目】 If a price increase of 5 percent increases the quantity demanded of another good by 2 percent, the goods must be and the cross elasticity of demand equals 【答案】 substitutes; 0.4.
【題目】 Under which of the following conditions would the interdiction of illegal drugs result in a decrease in the quantity of drugs sold and in a decrease in total spending on illegal drugs by drug users? The price elasticity of demand for illegal drugs is 1.3.