Refer to the above table. What is the absolute price elasticity of demand when price changes from $6.00 to $6.50?
A) 1.60
B) 1.00
C) 0.65
D) 0.60
B
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According to the table shown, fixed costs must be:
This table shows the total costs for various levels of output for a firm operating in a perfectly competitive market.
A. $10.
B. $200.
C. $60.
D. Fixed costs cannot be determined by the information in the table.
If the value of nominal GDP of an economy is 1.3 times the value of its real GDP, then the value of the GDP deflator in the economy will be 130
a. True b. False Indicate whether the statement is true or false
Other things the same, domestic investment will increase a country's real GDP by more than foreign investment
a. True b. False Indicate whether the statement is true or false
The United States' economy is the largest in the world because
A.) it has a high quantity and quality of capital resources. B.) the government directs resources to the most desirable outcomes. C.) it has abundant natural and human resources. D.) Both A and C are correct.