A price increase from $43 to $49 results in an increase in quantity supplied from 220 units to 240 units. The price elasticity of supply in this price range is
What will be an ideal response?
.67
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The New York Stock Exchange is the only place where a corporation can sell stocks and raise money.
Answer the following statement true (T) or false (F)
A general sales tax and a value-added tax have _____
a. a common tax base b. nothing in common c. rates in common d. investment as a tax base e. a and d
In terms of pricing, which of the following is not true for a monopolist?
A.) In the long-run economic profit is impossible. B.) Marginal revenue is always less then the price charged. C.) If marginal revenue is greater then marginal cost increasing output will increase profits (decrease loss). D.) Maximum profit (minimum loss) occurs where marginal revenue equals marginal cost.
Which would most likely increase aggregate supply?
a. A decrease in net exports b. A decrease in the prices of resources c. An increase in the degree of excess capacity d. A decrease in subsidies for businesses