For a linear demand curve:
A. elasticity is constant along the curve.
B. elasticity is unity at every point on the curve.
C. demand is elastic at low prices.
D. demand is elastic at high prices.
Answer: D
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The unemployment rate is defined as the
A) number of people not working. B) percentage of the population not working. C) percentage of the labor force not working. D) percentage of the working-age population not working.
The supply curve for a perfectly competitive firm is the portion of its marginal cost curve that lies above the average variable cost curve
Indicate whether the statement is true or false
Which of the following is most likely to be a feature of a contingent contract?
A) A CFO is paid $250,000 if he does a good job. B) A VP of Sales is given options as part of her salary. C) Both A and B. D) None of the above.
According to the above table, Gross Domestic Product (GDP) is
A. $2,840. B. $2,750. C. $2,190. D. $2,465.