The more sensitive quantity demanded is to a change in price, the

A) smaller a change in price must be to induce a certain change in quantity demanded.
B) greater the absolute price elasticity of demand.
C) smaller the absolute price elasticity of demand.
D) closer the absolute price elasticity of demand is to zero.


Answer: B

Economics

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U.S. GDP and U.S. GNP are related as follows:

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Which one of these firms would be an oligopolist?

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Compared to an open economy without a tariff, the amount of imported sugar will drop from ________ tons to ________ tons after the tariff is imposed.

A. 60; 30 B. 40; 20 C. 80; 40 D. 20; 10

Economics