If price elasticity is less than one, then demand is said to be inelastic

Indicate whether the statement is true or false


True

Economics

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Consumer surplus increases whenever the price of a good increases

a. True b. False Indicate whether the statement is true or false

Economics

Revenue sharing is usually a means of

a. making states transfer money to the federal government. b. equalizing expenditures per pupil made by school districts. c. splitting the revenue earned from excise taxes between states and the federal government. d. making grants to state and local governments.

Economics

Changes in the price of other goods lead to

A. a change in quantity demanded. B. a change in demand. C. a movement along the demand curve. D. no change in the demand curve.

Economics

A firm that practices multimarket price discrimination will set the lower price in the market that has the most elastic demand

What will be an ideal response?

Economics