Refer to the graph shown. Area F is:
A. smaller than areas B and C, because demand is elastic between $10 and $30.
B. larger than areas B and C, because demand is elastic between $10 and $30.
C. larger than areas B and C, because demand is inelastic between $10 and $30.
D. smaller than areas B and C, because demand is inelastic between $10 and $30.
Answer: D
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The formal and informal rules governing the organization of a society on the whole, including its laws and regulations, are referred to as:
A) organizational structure. B) religious norms. C) cultural scenario. D) institutions.
If, in retaliation for "unfair" trade practices, Congress imposes a 30 percent tariff on Japanese DVD recorders, but at the same time, U.S. demand for Japanese goods increases, then, in the long run, ________, everything else held constant
A) the Japanese yen should appreciate relative to the U.S. dollar B) the Japanese yen should depreciate relative to the U.S. dollar C) there is no effect on the Japanese yen relative to the U.S. dollar D) the Japanese yen could appreciate, depreciate or remain constant relative to the U.S. dollar
If the median voter voted against a project, we can infer that
A) at least half of the voters also voted against it. B) at most a third of the voters voted against the project. C) the project was approved. D) at least half of the voters voted in favor of the project.
Accounting profit is equal to?
A. Total revenue minus the explicit cost of producing goods and services. B. Total revenue minus the opportunity cost of producing goods and service. C. Average revenue minus the average cost of products the last unit of a good or service. D. Marginal revenue minus marginal cost. E. Total revenue minus depreciation.