Refer to Figure 6-4. The inelastic segment of the demand curve
A) is coincident with the horizontal axis. B) lies below the midpoint of the curve.
C) lies above the midpoint of the curve. D) is coincident with the vertical axis.
B
You might also like to view...
Refer to the above figure. At a price of four cents, the quantity of bubble gum supplied will be
A. 2. B. 3. C. 4. D. 5.
In an economy in which aggregate demand is stable and a period of sustained and significant productivity growth occurs, there will be
A. a shift of aggregate supply to the left. B. a constant price level. C. secular deflation. D. secular inflation.
The ABC Corporation earned a real rate return of 4.5 percent on an investment. In the economy, the nominal rate of interest was 6 percent and the rate of inflation was 3 percent. We can conclude that
A) the investment was unprofitable. B) the investment was profitable. C) the real rate of interest was 9 percent. D) the real rate of interest was 1.5 percent.
Technological advancements have led to lower prices and an increase in the sale of digital cameras. How does this affect the digital photo printing paper market?
A) The demand curve for digital photo printing paper shifts to the right. B) The demand curve for digital photo printing paper shifts to the left. C) The supply curve for digital photo printing paper shifts to the right. D) The supply curve for digital photo printing paper shifts to the left.