--%>

Problem on Long-Run Adjustments

Since longer time intervals are considered, the quantities demanded for most goods become __________ to any modification in price. (1) Directly related. (2) Less responsive. (3) Less enamored. (4) Indifferent. (5) More responsive.
Find out the right answer from the above options.

   Related Questions in Microeconomics

  • Q : Advantage of Law of Equal Marginal in

    Assume that the last week your food budget yielded 5 utils from your previous $4 burrito; and 4 utils from your previous $5 hot fudge sundae. Purchasing one: (i) More burrito and one less sundae this week would reduce total utility. (ii) More sundaes and one less burr

  • Q : Relation of transaction costs with

    Transaction costs are costs mainly related with the: (w) transportation and gathering information about goods or resources. (x) direct production costs for goods. (y) inputs quite than outputs. (z) supply prices rather than demand prices.

  • Q : Price elasticity of supply problem The

    The price elasticity of supply generally evaluates the ratio of relative: (i) Gain to the amounts firms supply at different prices. (ii) Price increase need to induce a firm to raise output. (iii) Change in the quantity supplied to a associative chang

  • Q : Demand when coefficient of price

    When the coefficient of price elasticity for eggs is 0.67, in that case the demand for eggs is: (w) relatively elastic. (x) relatively inelastic. (y) an upward sloping demand. (z) a horizontal demand. I need a good

  • Q : Human Capital-Individuals premium wages

    The firm which offers its workers by substantial specific training tends to: (i) Pay such individuals premium wages to try to make sure retaining such workers. (ii) Need workers to sign the legal contracts of indenture and peonage. (iii) Raise worker productivity appr

  • Q : Monopsonist-Wage discriminate Compared

    Compared with the price taker in labor market, the monopsonist which can’t wage discriminate will: (i) Hire more labor at any specified wage. (ii) Hire less labor at any wage. (iii) Pay a higher wage for any specified quantity of labor. (iv) Hire more prolific l

  • Q : Characterized monopolistic competition

    Monopolistic competition is NOT described by: (1) P = MSC. (2) large numbers of sellers. (3) P = LRATC. (4) MR = MC. (5) differentiated products. Hey friends please give your opinion for the problem of Econ

  • Q : Question 2 Explain the concept of a

    Explain the concept of a concentration ration. Is the concentration ratio in a monopolistically competitive industry likely to be higher than for a perfectly competitve industry? Explain the answer

  • Q : Problem relating to current demands for

    The people who anticipate prices to increase soon will tend to rise their: (i) Current demands for the durable goods. (ii) Waiting time prior to buying. (iii) Saving as a result they can afford higher prices. (iv) Current supplies.

  • Q : Saving in Negatively Investment Saving

    Saving is positively related to and investment is negatively related to: (1) marginal benefits and marginal costs. (2) real interest rates.  (3) returns onto alternatives. (4) expectations. (5) government surpluses and deficits.

    Discover Q & A

    Leading Solution Library
    Avail More Than 1433026 Solved problems, classrooms assignments, textbook's solutions, for quick Downloads
    No hassle, Instant Access
    Start Discovering

    18,76,764

    1927616
    Asked

    3,689

    Active Tutors

    1433026

    Questions
    Answered

    Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!!

    Submit Assignment

    ©TutorsGlobe All rights reserved 2022-2023.