The price of migraine medicine increased by 6%, causing a 1% increase in quantity supplied. Price elasticity of supply
a. is 6.
b. is 167.
c. is 1.
d. cannot be determined.
b. is 167.
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Compared to the previous 20 years, productivity growth in the United States increased between 1996 and 2014
Indicate whether the statement is true or false
Which one of the following could account for an increase in the market clearing price of iPads?
A) a decrease in demand for iPads B) an increase in supply of iPads C) an increase in supply along with a decrease in demand D) an increase in demand along with a decrease in supply
The logic of collective action explains the persistence of tariffs and quotas as an outcome that is driven by the asymmetry between
A. the benefits distributed across many consumers versus the concentration o f the costs in the hands of a few firms. B. the benefits distributed across many firms versus the concentration of the costs in the hands o f a few consumers. C . the benefit s concentrated in the hands of the few consumers, versus the costs distributed across many firms. D. the benefits concentrated in the hands o f the few firms, versus the costs distributed across many consumers.
When one individual writes a check to another individual the money supply will not be changed
Indicate whether the statement is true or false