The range to the right of the midpoint on a linear demand curve is
A) elastic.
B) infinite.
C) one.
D) inelastic.
D
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Marginal revenue for a monopolist is computed as
a. average revenue divided by quantity sold. b. average revenue times quantity divided by price. c. total revenue divided by quantity sold. d. change in total revenue per one unit increase in quantity sold.
Which of the following statements is an example of confusing association and causation?
A. Senator Jones believes that more tax revenue should be distributed to the poor. B. A map includes roads, but not every restaurant, telephone pole, and C. Interest rates rise when it rains, all other factors constant. D. When the price of Coca-Cola increases, consumers buy more Pepsi, all other factors constant.
If a natural disaster were to cause a negative long-run supply shock to the economy, once the economy adjusts, the new equilibrium will be at a:
A. higher price level and lower level of output. B. lower price level and lower level of output. C. higher price level and higher level of output. D. lower price level and higher level of output.
Having stakeholder groups involved in the strategic planning process helps to develop a sense of ownership and vision.
a. true b. false