The price elasticity of a vertical demand curve is always
a. infinitely large.
b. zero.
c. one.
d. increasing as price increases.
b
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The negative correlation between the vacancy rate and the unemployment rate is called
A) The Laffer curve. B) The Phillips curve. C) The Fisher relation. D) The Beveridge curve.
The New Deal allowed the federal government to reorganize and pursue economic planning
Indicate whether the statement is true or false
According to economic analysis, the optimal level of pollution is
A) always zero. B) at the point at which the marginal benefits of pollution control exceed the marginal cost. C) at the point at which the marginal benefits of pollution control are less than the marginal cost. D) at the point at which the marginal benefits from pollution control are equal to the marginal cost.
A shift from i1 to i2 in graph 1 leads directly to which of the following in graph 2?
a. a shift from PL2 to PL1
b. a shift from MD2 to MD1
c. a shift from RGDP1 to RGDP2
d. a shift from RGDP2 to RGDP1