Answered>Order 1288

  1. Would the price elasticity coefficient of a product that has successful advertising and local buyers be high or low?
  2. Identify price elasticity of a product whose demand is a small portion of one’s income
  3. Economics of scale
  4. If the price of labor or some other variable resource decreased what happens to the mc curve?
  5. The Price elasticity of demand coefficient measures what?
  6. If the price of a varible resource increased for the typical firm, what happens to the MC curve?
  7. If the demand for wheat is highly price inelastic, an extraordinary large crop ay do what to farmer’s incomes?
 
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