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April 20, 2014

Homework Help: ECONOMICS

Posted by Booker Perry on Tuesday, July 10, 2012 at 12:45pm.

1)A plastic surgeon thinks she can make more revenue by lowering the price of cosmetic surgery. She lowers her hourly rate from $600 to $550. If cosmetic surgery is an elastic service, is she correct in her assumption?
A)Yes
B)No

2)How would the elasticity of supply relate to the extremely high prices for paintings produced by painters from centuries before now.





Answer:
1) Yes(not sure)
2) I need help with this.


Thank You!!!

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