On a linear demand curve, demand is ________ at the middle of the demand curve than it is at small quantities.
A. more elastic
B. less elastic
C. equally elastic
D. There is insufficient information in the question.
Answer: B
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The above table shows Homer's marginal utility from consuming various quantities of chocolate chip cookies and cake. The price of cookies is $2 per pound, the price of cake is $2 per slice and Homer has $18 to spend on cookies and cake
Homer will consume ________ pounds of cookies and ________ slices of cake. A) 5; 4 B) 4; 5 C) 6; 3 D) None of the above answers is correct.
A deliberate change in the government's deficit
A) constitutes discretionary fiscal policy. B) leads to automatic stabilization. C) acts as a drag on the economy. D) is implemented by the Fed.
The burden that results from a tax on yachts falls more heavily on the buyers of yachts than on the sellers of yachts
a. True b. False Indicate whether the statement is true or false
If a price is demand determined, then
A. the demand curve must be upward sloping. B. the demand curve must be vertical. C. the supply curve must be vertical. D. the supply curve must be horizontal.