Historical demand curves are always suspect because their demand curves are likely to have shifted over time
a. True
b. False
Indicate whether the statement is true or false
True
You might also like to view...
Perfectly inelastic demand curves are vertical.
Answer the following statement true (T) or false (F)
In contrast to a traditional IRA, contributions to a Roth IRA are not tax-deductible. However, withdrawals are tax-free
Can you think of any reason why someone might wish to use this type of IRA over a traditional IRA that allows tax deductible contributions? Compare and contrast the motivations that would lead to people to invest in either of them.
If an industry has constant marginal and average costs, any shift in demand will eventually
A) result in a higher equilibrium price. B) be met by a smaller change in quantity supplied. C) be met by an equal change in quantity supplied, and equilibrium price will not change. D) make economic profits zero in the short run.
The market for cigarettes likely has a:
A. highly elastic demand. B. slightly elastic demand. C. highly inelastic demand. D. slightly inelastic demand.