If a good has a price elasticity of demand coefficient less than one, then:
A. this good has an elastic demand.
B. this good has an inelastic demand.
C. a 10 percent increase in the price will result in a greater than 10 percent decrease in the quantity demanded.
D. the demand curve will be vertical.
Answer: B
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Refer to Table 5.1. Does either Andrea or Hector have an absolute advantage and if so, in what product?
A) Andrea only has an absolute advantage in producing bracelets. B) Hector only has an absolute advantage in producing bracelets. C) Andrea has an absolute advantage in producing both products. D) Hector only has an absolute advantage in producing tiaras.
Entities that buy up patents then try to extract large payments from companies that use similar technologies are known as ________
A) Solow pirates B) tertiary leeches C) Great Googly Mooglies D) patent trolls
In California, proposition 209 eliminated racial preferences in college admissions
Indicate whether the statement is true or false
The group of countries more likely to have a high number of telephone lines per 1,000 people is
a. high-income countries b. zero-income countries c. infinite-income countries d. low-income countries e. middle-income countries