With perfectly inelastic supply, the elasticity of supply is ______.
a. zero
b. one
c. three
d. five
a. zero
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Refer to Table 15-2. What is the amount of profit that the firm earns?
A) $34.50 B) $42 C) $47 D) $49
The law of demand says that as the price of a good rises,
a. buyers recognize that price may be even higher in the future, and so they buy now b. buyers purchase less in hopes that the price will fall in the future c. buyers purchase less, in part because their real income has fallen d. buyers purchase more, in part because the price of a substitute has risen e. buyers purchase more, in part because it has higher status at a higher price
Which of the following can reduce the level of economic growth?
A. Crowding out. B. Technological improvements. C. Higher ratios of capital to labor. D. Crowding in.
Referring to Table 4.2, Box R should be filled with 
A. $6.00. B. $30. C. $12.50. D. $8.00.