When Monica's Catering lowered the price of catered meals from $60 per person to $20 per person, the quantity demanded doubled from 500 meals to 1,000 meals
You can conclude that the demand for Monica's catered meals over the price range of $20 to $60 is A) upward sloping.
B) unit elastic.
C) elastic.
D) inelastic.
D
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Providing a fixed number of workers with additional capital will ________ average labor productivity at a ________ rate.
A. increase; increasing B. decrease; decreasing C. increase; constant D. increase; decreasing
Which of the following statements is true?
A) The total cost of production in a perfectly competitive market can be minimized only when the marginal costs across firms in the market are different. B) When a competitive market is allowed to operate efficiently, firms end up producing goods using the least amount of scarce resources. C) Under a perfectly competitive framework, a ruling authority is essentially required to dictate goals for the betterment of society. D) A firm interested in maximizing profits in a perfectly competitive market will produce output at a level where marginal revenue is equal to the price and greater than the marginal cost.
Explain the difficulties in regulating international banking
What will be an ideal response?
In the Friedman "Fooling Model" if P(e) is less than P then the labor supply curve in Figure 17-1 above
A) shifts leftward when workers realize their error. B) always shifts rightward. C) initially remains the same. D) Both A and C are correct.