The demand for movies is unit elastic if

A) a 5 percent decrease in the price leads to an infinite increase in the quantity demanded.
B) a 5 percent increase in the price leads to a 5 percent decrease in the quantity demanded.
C) any increase in the price leads to a 1 percent decrease in the quantity demanded.
D) a 5 percent increase in the price leads to a 5 percent increase in total revenue.


B

Economics

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A decrease in the marginal income tax rate is a fiscal policy which will increase aggregate demand

Indicate whether the statement is true or false

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Suppose Joe's MRS for cookies with crackers is 6 crackers per cookie. Also assume that Mary's MRS for cookies with crackers is 3 crackers per cookie. Assuming that these rates of substitution don't depend on the amounts consumed, which of the following trades would make both Joe and Mary better off?

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If Utopia has a closed economy, the number of cases of tile consumed each is ________ per year, and if it has an open economy the number of cases of tile consumed is ________ per year.

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Economics