Suppose a city that operates local electric and natural gas companies wants to raise revenues by increasing its rates for electricity and natural gas. The price rise will increase city revenues if the elasticity of demand for electricity and natural gas is
a. inelastic.
b. elastic.
c. negative.
d. equal to -1.
A
Economics
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If a non-renewable resource is scarce, has constant marginal cost of production, and is sold in a competitive market,
A) its price will increase over time. B) its price will exceed marginal cost. C) its price will increase by the rate of interest. D) All of the above.
Economics
Affirmative action laws require employers to hire specified numbers of minorities
a. True b. False Indicate whether the statement is true or false
Economics
The lack of a universal productivity effect of higher education was demonstrated by the experience of
a. the United Kingdom. b. Ireland. c. France. d. the Soviet Union.
Economics
Tax multiplier:
What will be an ideal response?
Economics