subject
Business, 18.02.2021 20:50 creeconnell1

Suppose the price elasticity of demand for heating oil is 0.1 in the short run and 0.9 in the long run. a. If the price of heating oil rises from $1.20 to $1.80 per gallon, the quantity of heating oil demanded will by % in the short run and by % in the long run. The change is in the short run because people can respond easily to the change in the price of heating oil.
b. Why might this elasticity depend on the time horizon?

ansver
Answers: 2

Other questions on the subject: Business

image
Business, 22.06.2019 07:30, natebarr17
Select the correct answer. sarah works in a coffee house where she is responsible for keying in customer orders. a customer orders snacks and coffee, but later, cancels th snacks, saying she wants only coffee. at the end of the day, sarah finds that there is a mismatch in the snack items ordered. which term suggest data has been violated? a. security b. integrity c. adding d. reliability e. reporting
Answers: 3
image
Business, 22.06.2019 11:30, avhobby3
Which of the following is not an example of one of the four mail advantages of prices on a free market economy
Answers: 1
image
Business, 22.06.2019 11:50, 2kdragginppl
Stocks a, b, and c are similar in some respects: each has an expected return of 10% and a standard deviation of 25%. stocks a and b have returns that are independent of one another; i. e., their correlation coefficient, r, equals zero. stocks a and c have returns that are negatively correlated with one another; i. e., r is less than 0. portfolio ab is a portfolio with half of its money invested in stock a and half in stock b. portfolio ac is a portfolio with half of its money invested in stock a and half invested in stock c. which of the following statements is correct? a. portfolio ab has a standard deviation that is greater than 25%.b. portfolio ac has an expected return that is less than 10%.c. portfolio ac has a standard deviation that is less than 25%.d. portfolio ab has a standard deviation that is equal to 25%.e. portfolio ac has an expected return that is greater than 25%.
Answers: 3
image
Business, 22.06.2019 18:00, tifftiff22
On september 1, 2016, steve loaned brett $2,000 at 12% interest compounded annually. steve is not in the business of lending money. the note stated that principal and interest would be due on august 31, 2018. in 2018, steve received $2,508.80 ($2,000 principal and $508.80 interest). steve uses the cash method of accounting. what amount must steve include in income on his income tax return?
Answers: 1
You know the right answer?
Suppose the price elasticity of demand for heating oil is 0.1 in the short run and 0.9 in the long r...

Questions in other subjects:

Konu
Mathematics, 06.05.2020 00:28
Konu
History, 06.05.2020 00:28
Konu
Mathematics, 06.05.2020 00:28