If a firm is facing elastic demand, then the firm should decrease price to increase revenue
a. True
b. False
Indicate whether the statement is true or false
True
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New classical economists believe that:
a. market failure on a large scale is possible. b. disequilibrium in commodity markets demand government intervention. c. people are completely aware and informed about everything that is happening. d. wages are fixed in the short run. e. people purposefully substitute non-labor activities for work during recession.
According to monetarists:
A. changes in the money supply are the primary cause of changes in the price level. B. an expansionary fiscal policy will lower interest rates and overstimulate the economy. C. changes in the velocity of money are more important than changes in the money supply in causing the level of economic activity to change. D. the supply of money changes in response to changes in the levels of real output and prices.
For a product with a rapidly increasing opportunity cost of producing additional units,
A) demand is price elastic. B) supply is price elastic. C) demand is price inelastic. D) supply is price inelastic. E) the demand curve is vertical.
Before the EEOC can take any action at all, it must receive a sworn complaint from an individual
Indicate whether the statement is true or false