Which of the following goods is likely to have the most price inelastic demand?
a. margarine
b. Tide detergent
c. cigarettes
d. Coca-Cola
e. ground beef
C
You might also like to view...
Refer to Game Matrix V. Which of the following values of X and Y result in there being no pure strategy Nash Equilibrium?
a. X = 21, Y = 9. b. X = 19, Y = 11. c. X = 31, Y = 11. d. There will always be at least one pure strategy Nash Equilibrium in this game.
Based on the figure below. Starting from long-run equilibrium at point C, a tax increase that decreases aggregate demand from AD1 to AD will lead to a short-run equilibrium at point ________ and eventually to a long-run equilibrium at point ________, if left to self-correcting tendencies.
A. D; C B. D; B C. A; B D. B; C
A decrease in gross domestic product (GDP) necessarily means that consumer welfare has decreased
a. True b. False Indicate whether the statement is true or false
Define the efficient markets hypothesis