If demand is perfectly inelastic, then:
A. the demand curve is vertical.
B. the own price elasticity of demand is infinite in absolute value.
C. a small increase in price will lead to a situation where none of the good is purchased.
D. None of the statements is correct.
Answer: A
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Which of the following is included in gross domestic product for an economy in a given year?
A) the value of used goods sold in that year B) the value of final goods produced in that year C) the value of intermediate goods produced in that year D) All of the above would be included in gross domestic product for an economy in a given year.
What is the difference between retained earnings and dividends?
What will be an ideal response?
The $/€ bid rate is the:
a. Inverse of €/$ ask rate b. Inverse of €/$ bid rate c. Inverse of $/€ ask rate d. Equal to the €/$ ask rate e. Equal to the €/$ bid rate
________ refers to the dominant firm's attempt to drive rivals out of business by temporarily setting price below cost or dropping the price only in certain markets
a. Herfindahl pricing b. Per se pricing c. Predatory pricing d. Marginal cost pricing