When demand is perfectly elastic the entire tax burden falls on the _____.
Fill in the blank(s) with the appropriate word(s).
seller
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When describing the opportunity cost of two producers, economists use the term
a. natural advantage. b. trading advantage. c. comparative advantage. d. absolute advantage.
Refer to the table below. Corey's opportunity cost of making of a pizza is delivering: Pizzas MadePer HourPizzasDeliveredPer HourCorey126Pat1015
A. 2 pizzas. B. 1/2 of a pizza. C. 3/2 of a pizza. D. 2/3 of a pizza.
It is possible for one person to have an absolute advantage in something even if she has no comparative advantage in anything
a. True b. False
The graph below shows the Chamberlin model. One would expect the demand curve facing a monopolistically competitive firm to be 
A. more elastic than a perfectly competitive firm in the same industry. B. as elastic as a monopoly in the same industry. C. more elastic than a monopoly in the same industry. D. less elastic than a monopoly in the same industry.