In Figure 4.4, supply elasticity is zero in graph:
A. A.
B. B.
C. C.
D. D.
Answer: A
You might also like to view...
Four propane delivery firms have a tacit agreement to charge a service fee of $50 in addition to $5 per gallon of propane. If the firms' cost of propane increases and one of the four firms advertises that it will increase the service fee to $75 and raise the cost of a gallon of propane to $5.50 next month, this is an example of ________.
A) a preannouncement B) price leadership C) a meet-the-competition clause D) a precommitment
Refer to Scenario 5.5. Which of the following statements is true?
A) The expected cost of not fixing the car is less than the cost of fixing it. B) The expected cost of not fixing the car is greater than the cost of fixing it. C) It is not possible to tell whether the expected cost of fixing the car is less than the cost of fixing it, because the probabilities are subjective. D) It is not possible to tell whether the expected cost of fixing the car is less than the cost of fixing it, because the probabilities are not equal.
A monopolistic competitor earns a profit of $1,800 by selling 900 units of output at a price of $15 per unit. This implies its average cost of production is _____
a. $25 b. $15 c. $13 d. $2
Which group has the highest poverty rate from among these groups?
A. Children under 18 B. Persons over 65 C. White males D. Members of working class families