The figure above shows the supply curve for a good with
A) a perfectly elastic supply.
B) a perfectly inelastic supply.
C) an elastic supply.
D) an inelastic supply.
E) a unit elastic supply.
A
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Al works as a sales clerk at a department store for a fixed salary of $2,500 per month
He is offered a job as a salesperson at a car dealership in which there is a 50 percent chance that he will make $5,000 a month and a 50 percent chance that he will make only $1,000 a month. The figure above Al's utility of wealth curve: a) What is Al's expected income from the offered job? b) What is Al's expected utility from the offered job? c) Will Al accept the offer? Why or why not? d) What is the minimum fixed salary for which Al will continue to work for the department store and not accept the dealership's offer?
The graph shown demonstrates a tax a sellers. Before the tax was imposed, the sellers produced ________ units and received __________ for each one sold.
A. 15; $16
B. 31; $9
C. 31; $19
D. 15; $6
The higher are a firm's risk-corrected returns,
A) the lower are its labor costs. B) the higher are its opportunity costs. C) the more advantage it has in obtaining investor financing. D) the more difficulty it will have financing its expansion plans.
The Coase solution to the externality problem only works when bargaining costs are high
a. True b. False