Which one of the following is true?
a. Nike has a more inelastic demand curve than shoes
b. The demand curve for gas is more elastic in the short-run than in the long-run
c. Cigarettes have a more elastic demands than televisions
d. Salt has a more inelastic demand than meat
d
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In a pure coordination game, as long as the players coordinate on an outcome, it does not matter what that outcome is
Indicate whether the statement is true or false
The tables above show the marginal costs and benefits from production of paper. The efficient level of output is ________ of paper
A) 1,600 tons B) 2,400 tons C) 3,200 tons D) 4,000 tons
Assume that a consumer purchases a combination of products Y and Z. The MUy is 50 and the Py is $25. The MUz is 20 and the Pz is $5. What should this consumer do to maximize utility?
Please provide the best answer for the statement.
Competition among sellers generates
A) productive efficiency. B) allocative efficiency. C) equity. D) scarcity.