If the quantity demanded for good A increases from 40 to 60 when price decreases from $9 to $7, price elasticity of demand in this price range is 1.6.
Answer the following statement true (T) or false (F)
True
Economics
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Explain the difference between discretionary and automatic fiscal policy. Provide examples of each
What will be an ideal response?
Economics
The table above gives the total revenue and total cost for a perfectly competitive firm producing chocolate chip cookies. If the firm increases its output from 2 pounds of cookies to 3 pounds, the marginal revenue is ________ per pound of cookies
A) $11 B) $15 C) $30 D) $45
Economics
If households save $0.40 of each additional dollar of increased income and spend the rest, the expenditure multiplier will be
A) 1.67. B) 2.5. C) 4. D) 6.
Economics
As a general rule, what impact does technological progress have on a PPC?
What will be an ideal response?
Economics