For which of the following goods are consumers likely to have the most elastic demand?
A. clothing
B. sweaters
C. wool sweaters
D. purple wool sweaters
Answer: D
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Regarding the production of health care, more recent studies suggest that:
A) economies of scale exist up to a hospital size of approximately 500 beds. B) hospitals of many different sizes can compete effectively with each other on the basis of cost. C) the LRAC curve exhibits significant diseconomies of scale beginning with a hospital size of approximately 100 beds. D) the LRAC for hospitals exhibits a very distinct U shape.
The United States is a major exporter of
a. diamonds b. bauxite c. coffee d. corn e. gold
Would a union of all the restaurant workers in your area be more or less successful at winning wage increases without suffering employment losses than a union of all the pizzeria workers in your area? Explain
The rational-ignorance effect is a result of
What will be an ideal response?