In the graph above
A. D1 is more inelastic than D2.
B. D2 is more inelastic than D1.
C. D1 and D2 have the same elasticity.
D. There is no way to tell whether D1 or D2 is more elastic.
A. D1 is more inelastic than D2.
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A firm's average variable cost is $60, its total fixed cost is $3,000, and its output is 600 units. Its average total cost is
A) less than $58. B) between $58 and $62. C) between $62 and $64. D) more than $64.
The total quantity of an economy's final goods and services demanded at different inflation rates is
A) the aggregate supply curve. B) the aggregate demand curve. C) the Phillips curve. D) the aggregate expenditure function.
If minimum wage is set below equilibrium wage rate, no effect.
What will be an ideal response?
The slope of a line parallel to the horizontal axis is:
A. zero. B. one. C. infinite. D. one-half.