Top Posters
Since Sunday
57
50
27
18
16
16
15
14
14
14
14
13
New Topic  
wrote...
Posts: 136
2 months ago

Question 1.

When quantity supplied is NOT very responsive to a change in price, supply is

• elastic.

• inelastic.

• income sensitive.

• unit-elastic.

Question 2.

In economics, utility is defined as

• the usefulness of a good or service.

• the objective measure of the desirability of a good or service.

• the utilitarian value of a good or service.

• the want-satisfying power of a good or service.
Source  Download
Economics Today: The Micro View
Edition: 19th
Author:
Read 14 times
2 Replies
Replies
Answer verified by a subject expert
wrote...
Posts: 189
2 months ago
Sign in or Sign up in seconds to unlock everything.

Answer 1

inelastic.

Answer 2

the want-satisfying power of a good or service.
1
Related Topics
wrote...
2 months ago
Brilliant
New Topic      
Explore
Post your homework questions and get free online help from our incredible volunteers.
Learn More
Improve Grades
Help Others
Save Time
Accessible 24/7
  316 People Browsing
Your Opinion
Which of the following is the best resource to supplement your studies:
Votes: 49

Related Images
 456
 2884

▶️ Video: Phlebotomy

For a complete list of videos, visit our video library