Price elasticity of supply is represented as ____________________.
a. monetary currency
b. a percentage
c. a fraction
d. a ratio
d. a ratio
You might also like to view...
According to the Application, large increases in per capita income in the United States over the past 30 years have
A) led to a higher divorce rate. B) not increased happiness levels. C) had the greatest impact on retired people. D) lowered stress levels.
Government officials facing the challenge of an election will tend to make decisions
A) acceptable to a majority whether or not the majority is informed on the issues. B) expressing the public interest. C) favoring the long run interests of the majority. D) that reflect a high rate of time discount.
In the long run, perfectly competitive firms make zero economic profit, that is, their owners make a normal profit
Indicate whether the statement is true or false
To correct for a negative externality, a government might impose a uniform tax related only to the physical quantity of pollution if
A) the administrative costs are high. B) the cost of ascertaining the actual economic costs are relatively small. C) the economic damages are zero. D) the economic damages associated with the pollution are different across different locations.