What is the formula for the price elasticity of demand? The percentage change in the
A) quantity demanded divided by the percentage change in the price of a substitute or complement.
B) quantity supplied divided by the percentage change in price.
C) quantity demanded divided by the percentage change in price.
D) quantity demanded divided by the percentage change in income.
E) equilibrium quantity demanded divided by the equilibrium price.
C
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If you own a bond with a six percent coupon rate and new bonds are paying six percent, what will happen to your bond's market price?
What will be an ideal response?
Industry demand is given by: QD = 1000 – P
All firms in the industry have identical and constant marginal and average costs of $50/unit. a. If the industry is perfectly competitive, what will industry output be? What will be the equilibrium price? What profit will each firm earn? b. Now suppose that there are five firms in the industry, and that they collude to set price. What price will they set? What will be the output of each firm? What will be the profit of each firm?
Which of the following is in charge of U.S. aid to foreign countries?
a. Agency for International Development (AID). b. World Bank. c. International Monetary Fund (IMF). d. New International Economic Order (NIEO).
Workers whose skills become obsolete as a result of technological change are often paid a lower wage as a result of
a. natural ability. b. geographic location of employment. c. chance. d. work effort.