Sufficient information to determine the price elasticity

Assignment Help Microeconomics
Reference no: EM13689428

If maria spends a fixed dollar amount per week on movie rentals regardless of changes in the price, mariaʹs demand for movie rental can be considered: a) elastic. b) inelastic. c) unit elastic. d) there is no sufficient information to determine the price elasticity.

Reference no: EM13689428

Questions Cloud

Explain the multiplier intuitively : Normal 0 false false false EN-US X-NONE X-NONE Explain the multiplier intu..
Cost savings from decreasing the size of the police force : If the elasticity of crime with respect to the number of police is estimated to be -0.5 and the number of police fell by 5% and annual expenditures on police are equal to $60 billion and the cost of crime to victims is estimated to $400 billion then ..
Elasticity of crime with respect to the number of police : If the elasticity of crime with respect to the number of police is estimated to be -0.5 and the number of police fell by 5% and, over that same time period, homicide rates increased by 20% then
Sufficient information to determine the price elasticity : If maria spends a fixed dollar amount per week on movie rentals regardless of changes in the price, mariaʹs demand for movie rental can be considered:
Consider a consumer with preferences over newspapers : Consider a consumer with preferences over newspapers (x) and books (y) that can be represented by the quasilinear utility function u(x,y)=x+2sqrt(y)
How do we calculate the nominal interest rate : Normal 0 false false false EN-US X-NONE X-NONE If compounding is quarter..
An increase in the price of a product : Normal 0 false false false EN-US X-NONE X-NONE An increase in the price of..

Reviews

Write a Review

Microeconomics Questions & Answers

  Discuss and explain japans slow economic growth over the

discuss and explain japans slow economic growth over the past few decades and the projection that this will continue.

  How is selling price determined at optimum level of output

A firm operating under monopolistic competition - a price maker - is facing an unexpected inventory build up due to a weakening national economy. How does this firm allocate output between its several plants? How is the selling price determined at th..

  You need to responses to this questions about acawhat

you need to responses to this questions about acawhat provisions of aca are intended to reduce or increase directly the

  Contrast some of the most popular online auction sites

Normal 0 false false false EN-US X-NONE X-NONE MicrosoftInternetExplorer4 ..

  Explain the effect on dollar

Suppose that the euro zone is the home "country" and the US is the foreign country, which means that exchange rate, which has the dimensions of local currency per unit of foreign currency, is in units of euros per dollar.

  Find the teachers role in developing the behavior

what is the teachers role in developing a behavior intervention plan for students with challenging behavior? include

  What happens to consumer surplus in market for dvd recoreder

An improvement in technology lowers the cost of production of DVD recorders. Explain what happens to consumer surplus in the market for DVD recorders.

  If consumption and government purchases go up what occurs

assume that country a has a population of 500000 and only produces one good cars. country a produces 100000 cars per

  Express kinetic energy in terms of the base si units

Express kinetic energy in terms of the base SI units: the kilogram, meter, and second. Write your answer in terms of the abbreviations ({kg, m, s}), and then identify the resulting derived unit.

  During the last three decades entrepreneurs like michael

During the last three decades entrepreneurs like Michael Dell, Sam Walton, and Ted Turner earned billions of dollars. Do you think the average American is better or worse off as the result of the economic activities of these individuals? Explain your..

  According to the monetarists

According to the monetarists, which of the following is true?

  What is the effectiveness of the drug

In one year, 30 persons per 1,000 die of asthma. A new drug reduces that number to 20 per 1,000. How is outcome defined, and what is the "effectiveness" of the drug?

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd