When the marginal revenue curve intersects the horizontal axis
A) demand is relatively elastic.
B) demand is relatively inelastic.
C) demand is perfectly elastic.
D) demand is unitary elastic.
D
You might also like to view...
Use the following table, which lists output quantities and prices for the only three goods in the economy, to answer the next question. The base year is 2007.YearHot DogsBaseballsBottles of Beer?PriceQuantityPriceQuantityPriceQuantity2005$2.00100$2.5050$1.0010020064.001005.001002.0015020075.001005.001002.0020020088.001508.002004.00200200910.0020010.002004.00250The Consumer Price Index for the year 2009 is
A. 50. B. 200. C. 100. D. 150.
The takeover process dissipates capital, making it an inefficient market mechanism.
Answer the following statement true (T) or false (F)
The amount of money paid to workers as wages is an example of fixed costs
a. True b. False Indicate whether the statement is true or false
A nominal, bilateral exchange rate is:
a. The weighted-average value of a currency relative to many foreign currencies. b. The nominal, effective exchange rate adjusted for a nation's price level relative to many foreign countries' prices. c. The same as the nominal, effective exchange rate. d. The value of one currency in terms of another currency.