The demand for which of the following commodities is likely to be most inelastic?
A. Cola drinks
B. Beverages
C. Soft drinks
D. Pepsi Cola
Answer: B
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Adverse selection is more likely when a job requires intangible or unmeasurable abilities
a. True b. False
Assume the demand curve for shampoo is downward sloping. If the price of shampoo falls from $1.50 to $1.25 per dozen,
a. the demand for shampoo will fall. b. the demand for shampoo will rise. c. a larger quantity of shampoo will be demanded. d. a smaller quantity of shampoo will be demanded.
If a firm could perfectly price discriminate,
A. the marginal revenue curve would lie below the demand curve. B. the marginal revenue curve would be the same as the demand curve. C. there would be no marginal revenue function. D. the marginal revenue curve would lie above the demand curve.
If income rises from 6.0 trillion to 6.4 trillion, consumption rises from 5.5 trillion to 5.8 trillion. What is the slope of the aggregate expenditure line? (Assume there is neither international trade nor any government)
What will be an ideal response?