The slope of a straight line is not constant unless the line is vertical or horizontal.
Answer the following statement true (T) or false (F)
False
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If demand rises and supply falls, which of the following must be true?
a. The equilibrium quantity will rise. b. The equilibrium quantity will fall. c. The equilibrium quantity will not change. d. The change in the equilibrium quantity is indeterminate.
Given the information in Scenario 4.3, it would be correct to say that demand is:
A) infinitely elastic. B) elastic, but not infinitely elastic. C) unit elastic (Ep = -1). D) inelastic, but not completely inelastic. E) completely inelastic.
The difference in the prices of a zero-coupon bond and a coupon bond with the same face value and maturity date is simply:
A. the present value of the final payment. B. the future value of the coupon payments. C. the present value of the coupon payments. D. zero, since they are the same.
Firms that sell information products experience relatively high fixed costs but, once they have produced the first unit, can
A. sell additional units at a loss, or above cost. B. experience short-run diseconomies of scale. C. sell additional units at a relatively low cost per unit. D. provide expensive information products to consumers.