___________ unitary elasticity in either a supply or demand curve refers to a situation where a price change of one percent results in a quantity change of one percent.
a. Inconsistent
b. Constant
c. Locked
d. Temporary
b. Constant
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If a landlord will rent an apartment only to married couples, the landlord is using a ________ allocation method
A) majority rule B) market price C) contest D) personal characteristics E) command
The term ceteris paribus means
A) the greatest good for all. B) the study of scarcity and choice. C) all other things remaining constant or equal. D) value-free and testable.
Suppose Annie expects an annual return of $520 from an investment worth $500 . What should be the rate of interest charged by her to a risky borrower who is likely to repay the principal and interest with a probability of 0.7?
a. 45 percent b. 48.6 percent c. 20.33 percent d. 53.4 percent
If a decrease in the price of one good causes the demand curve for another good to shift to the left, the two goods must be
a. inferior b. normal goods c. inferior goods d. substitutes e. complements