Suppose when the price of mascara is $12, the quantity demanded is 450, and when the price is $8, the quantity demanded is 550. Using the mid-point method, the price elasticity of demand is:
A. –0.5
B. –2.0
C. –55
D. –180
A. –0.5
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A rightward shift in the supply curve of reserves held at the Fed ________
A) reduces the federal funds interest rate B) increases unemployment C) reduces the price level D) increases the tax rates
Six Flags Entertainment Cor
A) Some of the property owners might ask for more money than their property is worth and prevent the project from moving forward. B) The transactions costs of bargaining with the current landowners is likely to be quite low. C) The government would likely not use eminent domain in this situation since it involves a private corporation trying to acquire land from private landowners. D) The land must be undervalued for a large corporation like Six Flags to want to acquire it.
Pure public goods
a. are goods that are provided by the government b. are economically efficient c. are economically inefficient d. are both nonrival and nonexcludable e. are Pareto optimal
If a depletable resource is selling in a perfectly competitive market, its expected price will continue to fall over time. This makes it unprofitable for firms to seek out the resource and bring it to market.
Answer the following statement true (T) or false (F)