The elasticity of the momentary supply curve for any good always equals
A) zero.
B) one.
C) positive infinity.
D) None of the above answers is correct.
D
You might also like to view...
The figure above represents the competitive market for slices of key lime pie. When 60 slices are produced, the marginal cost
A) exceeds the marginal benefit. B) is less than the marginal benefit. C) equals the marginal benefit. D) is not defined. E) equals the deadweight loss on the 60th slice.
What is the outcome of demand-side policies when aggregate supply is upward-sloping?
What will be an ideal response?
One reason economists have many different views on social policy is that:
A. economic policy cannot involve value judgments. B. policy proposals must be based on precise evidence. C. economic policy is an exact science. D. policy proposals are based on various models that focus on different aspects of a problem.
An increase in aggregate demand in the long run will most likely result in _____
Fill in the blank(s) with the appropriate word(s).