• 100% Satisfaction Guarantee

skywalker, Tutor
Category: Homework
Satisfied Customers: 263
Experience:  Experienced math,economics,accounting,,finance teacher and tutor for 8 years graduated best schools
10366
skywalker is online now

# Microeconomics multiple choice questions (part 4)

### Customer Question

The supply of paintings by Van Gogh is most likely to be
a. of infinite elasticity because supply is limited
b. of high elasticity because supply is limited
c. elastic because the paintings are luxury goods
d. inelastic because supply is limited
e. unit elastic

The price elasticity of today's supply curve of classrooms on campus is
likely to
a. be greater than 1
b. be less than 1
c. be equal to 1
d. approach zero
e. be infinity

For which of the following goods is the income elasticity of demand likely
to be largest?
a. paperback mystery stories
b. best-selling hardcover novels
c. used textbooks
d. children's books
e. leather-bound editions of Shakespeare

If a good is inferior, then the income elasticity of demand for that good is
a. positive and greater than 1
b. negative
c. positive and less than 1
d. 0
e. perfectly elastic

The cross-price elasticity of demand between pancakes and waffles is
positive. This indiciates all of the following EXCEPT one. Which is the
exception?
a. pancakes and waffles are subsitutes
b. an increase in the price of pancakes will shift the demand curve for
waffles to the right
c. an increase in the price of waffles will shift the demand curve for
pancakes to the right.
d. a decrease in the supply of waffles will shift the demand curve for
pancakes to the right
e. pancake demand and waffle demand are price elastic
Submitted: 11 years ago.
Category: Homework
Expert:  skywalker replied 11 years ago.

You need to spend \$3 to view this post. Add Funds to your account and buy credits.
skywalker, Tutor
Category: Homework
Satisfied Customers: 263
Experience: Experienced math,economics,accounting,,finance teacher and tutor for 8 years graduated best schools

Ask-a-doc Web sites: If you've got a quick question, you can try to get an answer from sites that say they have various specialists on hand to give quick answers... Justanswer.com.
...leave nothing to chance.
Traffic on JustAnswer rose 14 percent...and had nearly 400,000 page views in 30 days...inquiries related to stress, high blood pressure, drinking and heart pain jumped 33 percent.
Tory Johnson, GMA Workplace Contributor, discusses work-from-home jobs, such as JustAnswer in which verified Experts answer people’s questions.
I will tell you that...the things you have to go through to be an Expert are quite rigorous.

### What Customers are Saying:

• Wonderful service, prompt, efficient, and accurate. Couldn't have asked for more. I cannot thank you enough for your help. Mary C. Freshfield, Liverpool, UK
< Previous | Next >
• Wonderful service, prompt, efficient, and accurate. Couldn't have asked for more. I cannot thank you enough for your help. Mary C. Freshfield, Liverpool, UK
• This expert is wonderful. They truly know what they are talking about, and they actually care about you. They really helped put my nerves at ease. Thank you so much!!!! Alex Los Angeles, CA
• Thank you for all your help. It is nice to know that this service is here for people like myself, who need answers fast and are not sure who to consult. GP Hesperia, CA
• I couldn't be more satisfied! This is the site I will always come to when I need a second opinion. Justin Kernersville, NC
• Just let me say that this encounter has been entirely professional and most helpful. I liked that I could ask additional questions and get answered in a very short turn around. Esther Woodstock, NY
• Thank you so much for taking your time and knowledge to support my concerns. Not only did you answer my questions, you even took it a step further with replying with more pertinent information I needed to know. Robin Elkton, Maryland
• He answered my question promptly and gave me accurate, detailed information. If all of your experts are half as good, you have a great thing going here. Diane Dallas, TX

• ### LogicPro

#### Satisfied Customers:

4925
Expert in Java C++ C C# VB Javascript Design SQL HTML
< Last | Next >

### LogicPro

#### Satisfied Customers:

4925
Expert in Java C++ C C# VB Javascript Design SQL HTML

### Manal Elkhoshkhany

#### Satisfied Customers:

4538
More than 5000 online tutoring sessions.

### Linda_us

#### Satisfied Customers:

3138
Post Graduate Diploma in Management (MBA)

### Chris M.

#### Satisfied Customers:

2602
Master's Degree, strong math and writing skills, experience in one-on-one tutoring (college English)

### F. Naz

#### Satisfied Customers:

2126
Experience with chartered accountancy

### Bizhelp

#### Satisfied Customers:

1887
Bachelors Degree and CPA with Accounting work experience

### Seanna

#### Satisfied Customers:

1781
3,000+ satisfied customers, all topics, A+ work