If the price elasticity of demand for a good equals one, then the demand for that good is:
A. perfectly elastic.
B. unit elastic.
C. inelastic.
D. elastic.
Answer: B
You might also like to view...
The above figure shows four different markets with changes in either the supply curve or the demand curve. Which graph best illustrates the market for non-dairy coffee creamer after severe weather destroys a large portion of the coffee crop?
A) Graph A B) Graph B C) Graph C D) Graph D
Unlike other business organizations, corporations are distinct entities that can continue operations even if the people who began that business are no longer around.
Answer the following statement true (T) or false (F)
The most likely group of the following that would be eligible for unemployment insurance benefits is
a. new college graduates looking for their first job. b. mothers returning to the labor force after caring for young children. c. workers who quit their jobs. d. experienced workers recently laid off.
What are the three main characteristics of monopolistic competition?