If the demand curve for a good is unit elastic, then total expenditure will _____ as the price of the good decreases.
A. remain constant
B. fall
C. rise
D. go to zero
Answer: C
You might also like to view...
A firm's profit is
A) usually negative when opportunity costs are included. B) the difference between marginal revenue and marginal cost. C) the opportunity cost of the firm's shareholders. D) the difference between revenue and cost.
Interstate banking
A. used to be legal but is now illegal. B. used to be illegal but is now legal. C. is illegal today and has always been illegal. D. has always been legal.
Suppose it takes workers in Baldistan 20 hours to produce a metal folding table, and it takes workers in Plochia 18 hours to produce an identical table. Workers in Baldistan take 40 hours to produce a set of ceramic plates, and it takes workers in Plochia 22 hours to make identical plates. Which of the following is true?
A. Baldistan and Plochia can gain from trading with one another. B. Plochia is better off making both tables and plates and not trading with Baldistan. C. Plochia has a comparative advantage in making tables. D. Baldistan has an absolute advantage in making tables.
The argument most often used in favor of redistribution is that a society as wealthy as the United States has a moral obligation to provide all its members with the basic necessities of life.
Answer the following statement true (T) or false (F)