Refer to the above table. For which prices is demand unit-elastic?
A. in a range of prices below $6.50
B. in a range of prices between $5 and $10
C. in a range of prices between $6 and $6.50
D. in a range of prices above $6.50
Answer: C
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If an person believes that it is likely that interest rates will increase, she is likely to hold less
A) money. B) real assets. C) stock. D) bonds.
Why has M2 grown more quickly than M1 in recent decades?
A) Currency in circulation has declined. B) People own more shares of stock than in the past. C) The amount of funds in CDs and money market mutual funds shares has grown faster than currency or checking deposits. D) Most people use debit cards instead of checking accounts.
Average revenue is slightly higher than price.
Answer the following statement true (T) or false (F)
What is the foreign trade effect, and how does it explain the shape of the aggregate demand curve?
What will be an ideal response?