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HACTEHA [7]
3 years ago
7

Assume the price of gasoline doubles tonight and remains at that price the next two years. The price elasticity of demand for ga

soline measured tomorrow will be ______ when compared with the price elasticity of demand for gasoline measured two years from now.
A. more elastic
B. larger in absolute value
C. the same
D. more inelastic
Business
1 answer:
enyata [817]3 years ago
6 0

Answer:

The correct answer is letter "D": more inelastic.

Explanation:

When its price changes, the supply, and demand for an inelastic good or service are not dramatically impacted. Whether the price of an inelastic product goes up or down, the buying habits of consumers remain roughly the same. <em>Prescription drugs, food, clothing, </em>and <em>gasoline</em> are common examples of inelastic goods.

Thus, <em>if the price of gasoline doubles tonight, that price would be considered more inelastic tomorrow compared to the current price until today than comparing the doubled price during the course of the upcoming two years</em>.

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Answer:

the long-run average total cost curve rises

Explanation

Diseconomies of scale is a situation that comes up due to the growth of a business which leads to increase in cost per unit. It is the cost disadvantage a business accrue as a result of increase in output leading to increase in cost per unit in the production of goods and services. When diseconomies of scale occur, as output rises unit cost falls.

3 0
2 years ago
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Answer:

value of your total investment income   362.80

Explanation:

The computation of the value of your total investment income in two years is shown below

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2 years ago
the biggest challenge facing the growth of new franchises is: A) market saturation B)competition from independent entrepreneurs
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A the production possibilities frontier (PPF) is bowed outward as a result of:_________
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Answer: 2) increasing opportunity costs.

Explanation:

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