ECON101 Exam Solutions Fall 2018: United Automobile Workers, Variable Cost, Sunk Costs

• School: University of Waterloo
• Department: Economics
• Course: ECON101
• Professor: All

Document Summary

Choose the one alternative that best completes the statement or answers the question. Instructor: ghazal memartoluie: suppose the government of nova scotia wants to reduce the consumption of electricity by 5 percent. The price elasticity of demand for electricity is 0. 40. Jack"s demand for good a is: perfectly elastic, elastic, unit elastic, perfectly inelastic, inelastic. 6,000: consider the information in table 4. 2. 1. 4: if the quantity of chicken demanded increases by 1. 25 percent when the price of beef increases by. 2. 5 percent, the cross elasticity of demand between chicken and beef is: 2. 0, -3. 125, -0. 5, 0. 5. Use the table below to answer the following questions. The momentary supply for air conditioners is: shown by a horizontal curve, elastic, perfectly elastic, shown by an upward-sloping curve, perfectly inelastic, goods that can be produced using rare productive resources have a ________ elasticity of supply. Use the table below to answer the following question. Units consumed jim"s total utility sally"s total utility.