The percentage change in the quantity demanded in response to a percentage change in the price is known as the
A) slope of the demand curve.
B) excess demand.
C) price elasticity of demand.
D) All of the above.
C
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Fluctuating exchange rates can alter a multinational firm's profits and losses. German company Bayer produces products in Germany and sells them in the United States
If the dollar depreciates against the euro, then Bayer's sales in the United States should ________ because it will take ________ U.S. dollars to purchase the German-made products. A) fall; more B) fall; fewer C) rise; more D) rise; fewer
For direct price discrimination to work effectively
a. The low-valued group should not be able to arbitrage b. Charge the same price to the different groups c. Both groups should have the same elasticity of demand d. None of the above
About 35,000 general aviation multiengine airplanes are licensed to operate in the United States. If an additional $1,000-per-year tax was levied on each plane to raise general revenue, economic thinking suggests the
a. annual revenue from this tax would be less than $35,000,000. b. annual revenue from this tax would be $35,000,000. c. annual revenue from this tax would be more than $35,000,000. d. number of airplanes would increase dramatically.
We can expect producers to pay:
A. None of these statements is true. B. less for land with lower productivity. C. more for land with lower productivity. D. less for land with higher productivity.