Is the demand for a particular brand of car, like a Chevrolet, likely to be more or less price-elastic than the demand for all cars?
Ans: More because of the availability of substitutes. (The price elasticity of a good generally increases with the number of available substitutes for the good.)
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Define the tragedy of the commons. Give three examples of common resources. Briefly explain why common property resources are subject to overuse
What will be an ideal response?
How many Federal Reserve District Banks are there?
A) 5 B) 7 C) 12 D) 1
Mutual funds
a. provide diversification. Shareholders assume all of the risk associated with the mutual fund. b. provide diversification. Government insurance eliminates the risk of mutual fund shareholders. c. do not provide diversification. Shareholders assume all of the risk associated with the mutual fund d. do not provide diversification. Government insurance eliminates the risk of mutual fund shareholders.
Government can support agricultural prices by
A. paying farmers not to produce in particular fields. B. paying farmers not to produce in particular fields and making it illegal to consume more than a specified amount. C. lending farmers enough at subsidized interest rates to expand their production. D. making it illegal to consume more than a specified amount.