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wrote...
Posts: 52
2 weeks 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:
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Answer verified by a subject expert
wrote...
Posts: 65
2 weeks ago
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Answer 1

inelastic.

Answer 2

the want-satisfying power of a good or service.
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2 weeks ago
Brilliant
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