If, as a consumer, Jeannine is very sensitive to changes in the price of pineapples,
A) her demand is price elastic.
B) her demand is price inelastic.
C) her supply is price elastic.
D) her supply is price inelastic.
A
You might also like to view...
_____ transfer the necessary information within a firm and bind the recipients to take certain actions
a. Contracts b. Decision-makers c. Owners of information d. Orders
Suppose the value of the CPI is 1.100 in year one, 1.122 in year two, and 1.133 in year three. Assume also that the price of computers increases by 3% between year one and year two, and by another 3% between year two and year three. The price level is increasing, the inflation rate is ________, and the relative price of computers is ________.
A. increasing; increasing B. decreasing; increasing C. increasing; decreasing D. decreasing; decreasing
If private giving to public goods involves externalities, what is a Pigouvian solution to the public goods problem?
What will be an ideal response?
A(n) ____ is characterized by a relatively small number of firms producing a product
a. monopoly b. syndicate c. cooperative d. oligopoly e. none of the above