Use the table below to answer the following question.PriceQuantity Supplied$101089684726Over the $8 to $6 price range, supply is
A. zero.
B. unit-elastic.
C. elastic.
D. inelastic.
Answer: D
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Refer to Scenario 1-3. Using marginal analysis terminology, what is another economic term for the incremental cost of producing the last 400 t-shirts?
A) operating cost B) explicit cost C) marginal cost D) Any of the above terms are correct.
Comparing the situation of a nominal interest rate of 10 percent and an inflation rate of 9 percent with a nominal interest rate of 6 percent and inflation rate of 2 percent, consumers would borrow more in which situation?
A) Nominal interest rate of 10 percent since real interest rate is 1 percent. B) Nominal interest rate of 6 percent since the real interest rate is 4 percent. C) Nominal interest rate of 10 percent since the real interest rate is 9 percent. D) Nominal interest rate of 6 percent since the real interest rate is 2 percent.
In the above table, the cross price elasticity of demand for good Y with good X when PX rises from $10 to $12 is
A) +0.29. B) +1.83. C) +0.58. D) -0.58.
The supply curve for a monopolist
a. is its marginal cost curve b. is vertical because there are no close substitutes for its product c. is horizontal because there are no close substitutes for its product d. slopes upward e. does not exist