We generally expect the price elasticity of supply to be
A. positive or negative, depending on demand.
B. negative.
C. positive.
D. zero.
Answer: C
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Explain what are the factors that shift the DD Schedule
What will be an ideal response?
Governance mechanisms are designed
a. to increase contracting costs b. to resolve post-contractual opportunism c. to enhance the flexibility of restrictive covenants d. to replace insurance e. none of the above
The demand curve faced by the monopolist
a. has a constant price elasticity. b. is the industry demand curve. c. is identical to the firm's MR curve. d. is identical to the firm's TR curve.
How do workers typically express self-interest?
A. By minimizing the economic losses of other business firms. B. By maximizing the economic profits of other business firms. C. By seeking jobs with the best combination of wages and benefits. D. By seeking the highest price when purchasing a consumer product.