The own price elasticity of Anne's apple pies is 5 . If the aggregate market for apple pies has an own price elasticity of 1.25, Anne's apple pies has an approximate market share of
a. 6.25%
b. 25%
c. 10%
d. 20%
b
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The belief that the government can do absolutely nothing in either the short run or the long run to reduce the unemployment rate, because people will anticipate the government's actions, is held by the
Answer the next question on the basis of the following information.TFC = Total Fixed Cost MC = Marginal CostTVC = Total Variable Cost Q = Quantity of Output P = Product Price Select the marginal cost.
A. 
B. 
C. 
D. 
When a firm's fixed costs increase it should raise its prices in order to maximize profits
a. True b. False Indicate whether the statement is true or false
Which of the following questions are not answered by the process of demand side GDP determination?
a. How large is equilibrium GDP? b. Does the economy have unemployment? c. Is demand side equilibrium consistent with supply side equilibrium? d. Does the economy have inflation? e. All of the above are not answered.