The demand for shoes will likely be price ________ while the demand for Sketchers Go Walk walking shoes will likely be price ________.
A. elastic; elastic
B. inelastic; inelastic
C. inelastic; elastic
D. elastic; inelastic
Answer: C
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Output in the short run is determined by which of the following factors when an economy operates at full employment?
A) the labor force B) supply C) the price level D) demand
Along the elastic portion of a demand curve, the
A. change in price will always be greater than the change in quantity demanded. B. percentage change in quantity demanded will be less than the percentage change in price. C. change in price will always be less than the change in quantity demanded. D. percentage change in price will be less than the percentage change in quantity demanded.
Equilibrium quantity is _____.
When information is communicated informally in an organization is it called the
a. grapevine b. telephone c. circle d. hub