Suppose Qxd = 10,000 ? 2 Px + 3 Py ? 4.5M, where Px = $100, Py = $50, and M = $2,000. Then good X has a demand which is:
A. inelastic.
B. elastic.
C. unitary.
D. neither elastic, inelastic, nor unitary elastic.
Answer: A
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A reduction in the demand for labor will cause
A. wages to increase and employment to decrease. B. wages to decrease and employment to increase. C. wages to increase and employment to increase. D. wages to decrease and employment to decrease.
One should be wary of consultants peddling best practices or secrets to success because
a. They have different incentives than you do b. Such best practices are public knowledge and easily duplicated c. These best practices can at best only provide temporary profitability d. All of the above
You have a bond that you can redeem for $10,000 one year from now. The interest rate is 10 percent (0.10) per year. How much is the bond worth today?
a. $9,090.91 b. $10,000.00 c. $8,264.46 d. $9,523.81 e. $9,000.00
Externalities affect only the buyer and seller involved in an exchange
a. True b. False Indicate whether the statement is true or false