If a straight-line demand curve slopes down, price elasticity will:
a. remain the same at all points on the demand curve.
b. change between any two points along the demand curve.
c. always be greater than one.
d. always equal one.
e. always be less than one.
b
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Which of the following most resembles a perfectly competitive market?
a. the stock market b. the publishing industry c. the steel industry d. the new car market
Diversification can reduce firm-specific risk
a. True b. False Indicate whether the statement is true or false
Based on the table showing global income inequalities, in which of the following countries would the gap between rich and poor be greatest?
a. Venezuela
b. Russia
c. Japan
d. Sweden
Economic systems:
A. provide all the goods people want and desire. B. can eliminate scarcity. C. address the questions what is produced, how it is produced, and for whom it is produced. D. provide equal distribution of well-being among its participants.