As we move downward and to the right along a linear, downward-sloping demand curve,
a. both slope and elasticity remain constant.
b. slope changes but elasticity remains constant.
c. both slope and elasticity change.
d. slope remains constant but elasticity changes.
d
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Suppose you bought three tickets to a concert in advance at the University ticket window. At the last minute one friend cancelled, so you could use only two of the tickets. You sold the third ticket just outside the entrance to the concert for more than the price you had originally paid. Which transaction occurred in a market?
A. Both the purchase at the University ticket window and the sale at the concert entrance were market transactions. B. The advance purchase at the University was the only market transaction. C. The sale that occurred at the concert entrance was the only market transaction. D. Neither the purchase at the University ticket window nor the sale at the concert entrance was a market transaction.
From 2005-2008, the unemployment rate in the United States was significantly different from the rates in France, Germany, and Italy
This is often attributed to the idea that the rate of ________ unemployment in these European countries was ________ than it was in the United States. A) frictional; lower B) structural; higher C) cyclical; lower D) seasonal; higher
In the long run, a monopolistic competitor
A) sets MR = MC. B) produces where P = AC. C) sets P > MC. D) All of the above.
A savings account is an example of consumer income
a. True b. False Indicate whether the statement is true or false