Refer to the following table to answer the question. Supply shown by the table is:PriceQuantity Demanded$6.0080$8.0090$10.00100$12.00110$14.00120
A. unit elastic.
B. elastic.
C. inelastic.
D. changing as price changes.
Answer: A
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La Dila Corp . decided to sponsor an AIDS awareness campaign when it discovered that its rival had been sponsoring several fund-raising events for AIDS-afflicted children. This is an example of ________
A) bounded rationality B) pure altruism C) impure altruism D) consumerism
Which of the following is TRUE about public goods?
A) Consumption is rival and nonexcludable. B) Consumption is nonrival and excludable. C) Efficient provision occurs at the level of output at which total benefit is equal to total cost. D) Unregulated private markets produce less than the efficient quantity of a public good.
The short-run aggregate supply curve has a(n) ________ slope because as prices of ________ rise, prices of ________ rise more slowly
A) infinite; inputs; final goods and services B) positive; final goods and services; inputs C) infinite; final goods and services; inputs D) positive; inputs; final goods and services
Unions add costs to labor. Who ultimately absorbs the costs?
(a) The employer (b) The union worker (c) The unorganized laborer (d) The consumer