A perfectly elastic demand is one in which the:
A. price elasticity is exactly -1.
B. response to a change in price is immediate.
C. demand curve is perfectly horizontal.
D. demand curve is perfectly vertical.
Answer: C
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The practice of tenure at American universities is quite common
When a junior professor is approved for tenure he or she is promoted to associate or full professor and enjoys for all intents and purposes lifetime employment and protection against firing in the event that he or she's views are at odds with the university administration. While this policy has been in place for many decades across the country why is it that universities are hesitant to grant and do so only after careful evaluation of the candidate's work even though the salary they may have to contract is lower than what one might receive in the private sector.
The owner of a network will always want to be compatible with other networks in order to take advantage of network economies
Indicate whether the statement is true or false
A tax is regressive if it collects a:
a. larger amount as income rises. b. constant amount as income rises. c. smaller fraction of income as income falls. d. smaller fraction of income as income rises.
Only government restrictions serve as entry barriers.
Answer the following statement true (T) or false (F)