Given the availability of California oranges, demand for Florida oranges will
a. be less elastic than if there were no California oranges
b. be more elastic than if there were no California oranges
c. have the same elasticity as it would if there were no California oranges
d. be perfectly elastic
e. be perfectly inelastic
B
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Which of the following is NOT a source of bias in the CPI?
i. quality change bias ii. new goods bias iii. quantity change bias A) ii and iii B) iii only C) i only D) ii only E) i and ii
It has been observed that during times of an economic slump, workplace bullying by supervisors
Price discrimination occurs only in monopolies
a. True b. False Indicate whether the statement is true or false
The graph which represents the distribution of income in an economy is called the
A. aggregate demand curve. B. Laffer curve. C. distribution curve. D. Lorenz curve.