Other things being equal, the longer a price change persists
A. the less is the elasticity of demand.
B. the less chance a consumer will be able to adjust.
C. the greater is the elasticity of demand.
D. the more the consumer will be willing to pay.
Answer: C
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One morning while working on an assignment, you realize that your computer is functioning very slow because of a new virus. Hence, you decide to get your computer serviced
Using this scenario, distinguish between the proximate cause and fundamental cause of getting your computer serviced.
When the exchange rate between the U.S. dollar and the euro changes from 1.07 euros per dollar to 0.93 euros per dollar, then the
A) U.S. dollar has depreciated against the dollar. B) U.S. dollar has depreciated against the euro. C) euro has depreciated against the dollar. D) U.S. dollar has appreciated against the euro. E) euro has depreciated against the euro.
Data concerning the four-firm concentration ratios for U.S. manufacturing industries indicate that
a. very few oligopolies exist in the real world but the oligopoly model is still useful because it tells us something about firm behavior b. oligopolies are the second most prevalent market structure, monopoly being the first c. the four leading firms usually have less than 10 percent of industry sales d. the ratios are considerably less than the ratios in Canada and Western Europe e. oligopolies are very common
The main purpose of federal deposit insurance is to __________.
Fill in the blank(s) with the appropriate word(s).