The flatter the demand curve passing through a given point, the less elastic the demand curve at that point
a. True
b. False
Indicate whether the statement is true or false
False
You might also like to view...
Develop a simple model of inflation by identifying at least two exogenous variables and describing, briefly, how the value of these exogenous variables will impact the rate of increase in the overall level of prices in the economy
What will be an ideal response?
When you receive interest on your bank account, that income is part of the economy's __________ income
Fill in the blank(s) with correct word
Quotas on an imported product
A. benefit domestic producers of the product. B. benefit foreign producers of the product. C. benefit domestic consumers of the product. D. hurt foreign consumers of the product.
Which of the following factors would indicate an inelastic demand?
A. The good is a necessity, rather than a luxury. B. The good represents a small fraction of the budget. C. Demand is measured over a shorter period of time. D. All of these