Because there are many brands of similarly tasting light beers, the elasticity of demand for any one of them is likely to be
A. zero.
B. higher than that of light beer itself.
C. infinity.
D. less than that of light beer itself.
Answer: B
Economics
You might also like to view...
If firms differ in terms of their technologies, a drop in demand will cause a long run decrease in output price.
Answer the following statement true (T) or false (F)
Economics
The exogenous variable in the monetary policy curve is ________
A) the policy parameter, ? B) the real interest rate C) the autonomous component, D) the federal funds rate E) the inflation rate
Economics
When people are separated into different jobs on the basis of sex, it is referred to as:
a. statistical discrimination. b. employer prejudice. c. worker prejudice. d. occupational segregation. e. occupational crowding.
Economics
List and describe the two major jobs performed by price
Economics