If the demand for a product is said to be relatively inelastic, the "absolute" value of the elasticity coefficient will be
A) less than one.
B) greater than one.
C) equal to one.
D) zero.
A
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An increase in a firm's capital stock ________ in the marginal benefit of hiring labor
A) will cause no change B) will cause a decrease C) will cause an increase D) may cause an increase, a decrease, or no change
The market for maple syrup is perfectly competitive. Suppose that the market is in long-run equilibrium when the market demand for maple syrup increases. After the demand increases, a typical firm will
A) make zero economic profit. B) make an economic profit. C) incur an economic loss. D) exit the market.
Why do firms pay dividends? It would appear that they are subject to double taxation, giving more incentive to eliminate them.
What will be an ideal response?
Describe how you might analyze and evaluate the following claim: College students who graduate during an economic recession accept jobs that, on average, pay 9% less than jobs accepted by students who graduate during economic expansions
What will be an ideal response?