If a demand curve is unit elastic, then P times Q will remain constant when P changes.
Answer the following statement true (T) or false (F)
True
Economics
You might also like to view...
The level of equilibrium expenditure at each price level determines
A) full employment. B) the points on the AE curve. C) the points on the AD curve. D) aggregate planned production. E) the price level.
Economics
Explain why a monopolist has no supply curve
What will be an ideal response?
Economics
As the price of milk increases, producers are normally willing to supply greater quantities. This is known as the law of
a. demand b. gravity c. variable proportions d. profitability e. supply
Economics
According to the crude quantity theory of money, if M were to increase by 15%, what would happen to V, P, and Q?
What will be an ideal response?
Economics