Even though the price of Charlie’s Pipe Tobacco increases by 10 percent, the demand remains the same. This example shows ______ demand.
a. elastic
b. perfectly elastic
c. inelastic
d. perfectly inelastic
d. perfectly inelastic
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Union membership in the United States has remained relatively steady since 1955
a. True b. False
How does the asking wage depend on the unemployment insurance (UI) system in the United States?
A. The asking wage is lower the more skills the unemployed worker has. B. The asking wage is constant regardless of the unemployment insurance system. C. The asking wage will fall as the unemployed worker gets closer to exhausting his or her UI benefits. D. The asking wage is lower the more likely it is to receive a job offer. E. The asking wage is lower while receiving UI benefits than after one's UI benefits have expired.
Medicaid and SNAP (food stamps) are:
A. available only to families, not to individuals. B. counterproductive. C. forms of in-kind assistance. D. forms of cash assistance.
A monopolist can set any price it wants. So why does it still produce at a point where MC=MR, just like a perfectly competitive firm?
What will be an ideal response?