Price elasticity looks at
A. The degree to which price changes with a change in the quantity demanded or supplied.
B. The law of demand and the law of supply.
C. Why the law of supply and the law of demand are untrue.
D. How much the quantity demanded or supplied changes after a change in price.
Answer: D
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One of the essential functions that a bank performs is
A) transferring money from savers to lenders. B) owning assets like real estate. C) purchasing government bonds. D) creating deposits by lending required reserves.
If the 15th unit of output has a marginal cost of $29.50 and the average cost of producing 14 units of output is $30.23, what will happen to the average cost of production if the 15th unit is produced?
A) Average cost will fall. B) Average cost could increase or decrease depending on what happens to fixed cost. C) Average cost increases as more is produced. D) Average cost could increase or decrease depending on what happens to variable cost.
Between 1864 and 1900, the largest portion of railroad track (as a percentage of total annual construction) was laid in which region of the U.S.?
a. the Southeast b. the Northeast c. the Pacific Northwest d. the Great Plains region
Strategy is
a. The art of matching the resources and capabilities of a firm to the opportunities and risks in its environment b. Developing a resource for the company that is both rare and valuable to create competitive advantage c. Making sure that the resource developed is non-fungible to create a sustainable advantage d. All of the above