If the market elasticity of demand for potatoes is - 0.3 in a perfectly competitive market, then the individual farmer's elasticity of demand A. will also be - 0.3. B. will range between - 0.3 and - 1.0. C. will be infinite. D. depends on how large a crop the farmer produces.
Answers (1)
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “If the market elasticity of demand for potatoes is - 0.3 in a perfectly competitive market, then the individual farmer's elasticity of ...” in 📗 Business if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Search for Other Answers
You Might be Interested in
Consider a monopoly whose total cost function is tc = 10 + 5q + 2.5q2 and whose marginal cost function is mc = 5 + 5q. the demand function for the firms good is p = 115 - 0.25q.
Answers (1)
A statement of what a company brought in and paid out is called an
Answers (1)
Good Foods has net income of $82,490, total equity of $518,700, and total assets of $1,089,500. The dividend payout ratio is. 30. What is the internal growth rate? A) 2.32 percentB) 3.57 percentC) 5.60 percentD) 2.87 percentE) 4.94 percent
Answers (1)
A learning organization is an organization that actively creates, acquires, and transfers knowledge within itself and is able to modify its behavior to reflect new knowledge.
Answers (1)
On May 1st, Alpha Oil Company sends an electronic offer via the "cloud" to Zeno Refining Co. as follows: "Offer to sell 10,000 barrels of crude oil at $85 per barrel, will hold the offer open until July 1st.
Answers (1)
New Questions in Business
A budget surplus a. exists when government spending is greater than tax revenues. b. causes government debt to increase. c. occurs when the government has debt equal to zero. d. reduces the government's debt.
Answers (1)
Monique was looking for a venue for her wedding reception. When she visited one potential location, she noticed that the landscaping was not complete, and there was stained carpet in the lobby.
Answers (1)
A monthly fixed rate mortgage payment--- A. could change. B. never changes. C. increases annually. D. decreases annually.
Answers (1)
On December 31, Carmack Company received a $215 utility bill for December that it will not pay until January 15. The adjusting entry needed on December 31 to accrue this expense is: 1. Debit Utilities Expense $215; credit Accounts Payable $215. 2.
Answers (1)
Sean, a sales manager at MusicForAll Inc., constantly seeks responsibility and works hard to succeed at his workplace.
Answers (1)