Which factors determine the firm's elasticity of demand?
A) Elasticity of market demand and number of firms
B) Number of firms and the nature of interaction among firms
C) Elasticity of market demand, number of firms, and the nature of interaction among firms
D) none of the above
C
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The self-correcting tendency of the economy means that falling inflation eventually eliminates:
A. exogenous spending. B. recessionary gaps. C. expansionary gaps. D. unemployment.
Since so many people lived in river towns during the nineteenth century, public health board were primarily concerned with _____
a. preventing drowning b. keeping the water supply uncontaminated c. food quality on steamboats d. inspecting food brought into local ports
If the price of film increases, the demand for film processing would decrease; moreover, the equilibrium price and quantity of film processing should also decrease
a. True b. False
It can be difficult to define and enforce property rights against damaging pollutants when
a. many polluters are harming one person. b. many polluters harm the same large group of people with the same pollutant. c. the harms are difficult to quantify. d. All of the above are true.