When the price of corn dogs is $0.50, 10,000 corn dogs are demanded. When the price of corn dogs is $1.20, 5,000 are demanded. What is the price elasticity of demand for corn dogs?
A. -1.40
B. -0.81
C. -0.40
D. -1.20
Answer: B
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At a level of output when regulators require a natural monopoly to set a price that is equal to marginal cost, the firm
A) makes zero economic profit. B) makes an economic profit. C) incurs an economic loss. D) makes a normal-economic profit. E) makes either zero economic profit or an economic profit, depending on whether the firm's average total cost equals or is less than its marginal cost.
Policies adopted by a country's central bank that influence interest rates and credit conditions, which in turn influence consumer and business spending are called:
A) monetary policy. B) fiscal policy. C) foreign policy. D) exchange rate policy.
Those who think that a popular investment is necessarily a good investment often find themselves earning low returns
Indicate whether the statement is true or false
GDP does not directly include:
a. the value of final goods and services produced, but not sold, during a period.
b. the value of services rendered during a period
c. the value of intermediate goods sold during a period.
d. any of the above.