The absolute price elasticity of demand for good A is 1.5 when price is measured in dollars. If price were measured in cents, the price elasticity elasticity of demand would equal
A. 1.5.
B. 12.
C. 0.75.
D. 150.
Answer: A
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A student is studying for an exam 2 hours a day and is debating whether to study an extra hour. The student's marginal benefit
A) depends on the grade the student earns on the exam. B) is the benefit the student receives from studying all 3 hours. C) is the benefit the student receives from studying the extra hour. D) is greater than the student's marginal cost.
A monopolist is a price searcher because it has the ability to select the price along its demand curve of its product
a. True b. False Indicate whether the statement is true or false
The demand for money
a. is the same as the demand for bonds b. is the same as the supply of bonds c. increases whenever the price level falls d. reflects the constraints that people face e. shows the people always demand as much money as possible
Answer the following statement(s) true (T) or false (F)
1. The “cradle-to-grave” management system uses primarily market instruments to control and track hazardous wastes through the stages of the waste stream. 2. The legislative provisions that govern waste control policy in the United States today are the Hazardous and Solid Waste Amendments of 1984 (commonly known as the RCRA Amendments of 1984). 3. Waste management is a preventive strategy directed toward the generation stage of the waste stream. 4. Hazardous wastes that exhibit certain characteristics that imply a substantial risk are identified under the law as characteristic wastes. 5. A permit system is used to control hazardous waste management at treatment, storage, and disposal facilities (TSDFs).