For computers and other business equipment, small changes in business earnings tend to generate relatively large short-run changes in the demand for this equipment
In the long run, the responsiveness of demand for business equipment with respect to income changes tends to be: A) even more responsive.
B) less responsive.
C) equally responsive.
D) none of the above
B
You might also like to view...
A natural monopoly:
a. is a monopoly in the production of raw materials. b. occurs when one firm can supply the entire market more cheaply than can a number of firms. c. is one result of a patent. d. necessarily involves inefficient pricing.
John's friend Rosika won a major lottery jackpot. Seeing this, and despite the fact that millions don't win and the odds of winning are infinitesimal, John goes out and buys a bunch of lottery tickets despite struggling financially. John's
decision to buy the lottery tickets under these circumstances would best be explained by the: A. hindsight bias. B. self-serving bias. C. confirmation bias. D. availability heuristic.