The demand curve for a good that has many perfect substitutes in consumption is likely to be
a. upward sloping
b. steep
c. highly inelastic
d. horizontal
e. vertical
D
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Refer to above figure. What is the consumer surplus enjoyed by Hungarian consumers of Boeing aircraft in the situation?
What will be an ideal response?
Rivalry among firms would tend to be high if
a. There is a small number of firms in the market b. There is a large number of firms in the market c. There is only one firm in the market d. None of the above
What is the simple interest of a loan for $1,000 with 5 percent interest after 3 years?
(A) $150 (B) $1,150 (C) $50 (D) $1,050
The aging of the U.S. population has tended to ________ spending on health care, and the development of new drugs and medical equipment has tended to ________ spending on health care
A) increase; increase B) increase; decrease C) decrease; increase D) decrease; decrease