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
An industry has 1000 competitive firms, each producing 50 tons of output. At the current market price of $10, half of the firms have a short-run supply curve with a slope of 1; the other half each have a short-run supply curve with slope 2.
Answers (1)
Adamis the owner/operator of a flower shop. Last year he earned $250,000 in total revenue. His explicit costs were $175,000 paid to his employees and suppliers (assume that this amount represents the total opportunity cost of these resources).
Answers (1)
The demand for money is higher in japan than in the united states because: a. the average price level is lower in japan. b. most stores in japan do not accept credit cards. c. japanese banks pay interest on checking accounts. do.
Answers (1)
You just deposited $2,500 in a bank account that pays a 4.0% nominal interest rate, compounded quarterly.
Answers (1)
The Corner Market has decided to expand its retail store by building on a vacant lot it currently owns. This lot was purchased fourteen years ago at a cost of $99,000, which the firm paid in cash.
Answers (1)
New Questions in Business
Spencer Co. has a $350 petty cash fund. At the end of the first month the accumulated receipts represent $58 for delivery expenses, $187 for merchandise inventory, and $27 for miscellaneous expenses. The fund has a balance of $78.
Answers (2)
Pita Pal sells fast-food franchises. Pita Pal receives $83,000 from a new franchisee for providing initial training, equipment, and furnishings that together have a stand-alone selling price of $83,000.
Answers (1)
The accounts receivable credit column of the cash receipts journal is A. posted by individual amounts only at the end of the month. B. not posted. C. posted in summary only at the end of the month. D.
Answers (1)
Country A has a population of 1,000, of whom 800 work 8 hours a day to make 128,000 final goods. Country B has a population of 2,000, of whom 1,800 work 6 hours a day to make 270,000 final goods. a.
Answers (1)
Thirty-two new employees from Market Enterprises are attending orientation, receiving information about company policies, and filling out various forms. These employees comprise a group. 1. True2. False
Answers (1)