At a price of $20, Daphne sells 35 hand-painted dog collars per week. When she raised her price to $25, she sold 28 per week. Based on this information, the demand for her dog collars is
A) perfectly elastic.
B) inelastic.
C) unit elastic.
D) elastic.
Answer: C
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A game in which players collectively gain is known as a
A) zero-sum game. B) positive-sum game. C) negative-sum game. D) cooperative game.
What is the biggest reason for the pay gap among racial groups?
a. legal discrimination in favor of Asians and Caucasians b. systemic discrimination against Latinos and African-Americans c. higher educational achievement of Asians and Caucasians d. differences in job choices between the different racial groups
Of the following examples, the sales for ______ will most likely be affected by the health of the economy.
a. drain cleaner b. towels c. dishwashing liquid d. popcorn
Which of the following correctly describes the external benefit resulting from an individual's purchase of a winter flu shot?
A. The flu shot is cheaper than the cost of treatment when you get the flu. B. The income of doctors increases when you get the flu shot. C. The flu shot reduces the likelihood others will catch the flu. D. The flu shot reduces the likelihood you will miss work as the result of sickness; therefore, you will earn more income.