If the demand for foodstuffs is inelastic, which of the following positions would be most beneficial to Farmer Jones?
A) Bad weather for Jones and good weather for all other farmers.
B) Bad weather for all farmers except Jones (who witnesses good weather).
C) Bad weather for all farmers.
D) Good weather for all farmers.
E) There is not enough information to answer the question.
B
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A market structure in which many firms compete by making similar but slightly different products is called
A) perfect competition. B) monopolistic competition. C) oligopoly. D) monopoly.
Economists are still unsure whether the level of demand can be affected by government policy
Indicate whether the statement is true or false
Which of the following is more liquid?
A. A privately held company's stock B. A publicly held company's stock C. A house D. A rare painting
If disposable income falls by $50 billion and consumption falls by $40 billion, then the slope of the consumption function is
What will be an ideal response?