When studying how some event or policy affects a market, elasticity provides information on the
a. equity effects on the market by identifying the winners and losers.
b. magnitude of the effect on the market.
c. speed of adjustment of the market in response to the event or policy.
d. number of market participants who are directly affected by the event or policy.
b
You might also like to view...
Suppose the price of cement goes up in the United States. What happens in the market for new homes?
A) Supply shifts upward and to the left. B) Demand shifts left. C) Supply shifts downward and to the right. D) Demand shifts to the right.
The Grangers are noted for
a. encouraging the federal government to re-issue "greenbacks.". b. establishing cooperatives that sold farm and consumer goods to their members. c. refusing to sell grain to foreign countries. d. forming a cartel that set upper limits on members' output of basic farm products. e. All of the above.
Lindsay and Tim are playing the ultimatum game starting with $100 . Based on the coin toss, Lindsay is the player to propose a division of the $100 . If Lindsay acts as economic theory assumes, she should propose that
If you consume a product up to the point that your marginal utility becomes negative, your total utility will be _____.
Fill in the blank(s) with the appropriate word(s).