--%>

Short run in Substitution process

In the short run, simple and cheap new cures for cancer and heart disease would most likely decrease the: (i) Gains of tobacco companies. (ii) Absentee rates of nearly all young workers. (iii) Demands for the hospital beds in intensive care units. (iv) Supplies of doctors specializing in such diseases.

Choose the right answer from the above options.

   Related Questions in Microeconomics

  • Q : Quantity demanded grows with price cut

    A price elasticity of demand coefficient of 2.5 approximately implies that: (1) quantity demanded rises 1 percent while price rises 2.5 percent. (2) quantity demanded grows 2.5 percent along with a 1 percent price cut. (3) price rises 2.5 percent whil

  • Q : Yield behaviour conflicting law of

    Which of the given statements, if true, seems most probable to yield behavior which would conflict with the law of demand? (i) People cannot afford to drive as much whenever the price of gasoline goes above $3.00 per gallon. (ii) The greater heroin addicts encompass i

  • Q : Demands for education in relatively

    Most college students strongly are in opposition to tuition raises. When only one student in fifty transfers to other school subsequent a ten percent tuition hike at your school, in that case your economics professor would most likely conclude that most students&rsquo

  • 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 : Wise and efficient use of grocery in

    I have a problem in economics on Wise and efficient use of grocery in Consumer Surplus. Please help me in the following question. The consumer surplus is most probable to be raised by: (i) Wise and proficient use of grocery store coupons. (ii) Rises in the production

  • Q : Present Value of Annual Interest Rate

    When the annual interest rate is 11 percent and a small office building can be expected to lease perpetually for price of $33,000 annually, the building and also the land it sits onto have a present value of approximately: (1) $363,00

  • Q : Illustrations of homogeneous goods

    Illustrations of homogeneous goods would not comprise: (i) wheat. (ii) athletic shoes. (iii) penicillin. (iv) generic bleach. (v) reams of generic printer paper. I need a good answer on the topic of Economi

  • Q : Shutdown point of monopoly firm A

    A monopoly firm must shut down in the short run when: (w) P < minimum [average total costs [ATC]]. (x) P > minimum [average total costs [ATC]]. (y) this cannot cover all variable costs. (z) P does not equal marginal costs [MC].

    Q : Higher prices and lower output in market

    When a previously competitive industry becomes monopolized along with no consequence on market demand or the structure of production costs, the effect will be: (w) higher prices and greater output. (x) lower prices and greater output.

  • Q : Innovating and enduring uncertainty of

    Profits are: (i) rewards for innovating and enduring uncertainty. (ii) economic, not normal, under pure competition. (iii) reduced through monopolistic business practices or structure. (iv) payments for providing capital. (v) payments to resource owne