Distinguish between elastic demand and inelastic demand.
What will be an ideal response?
Elastic demand exists when a small percentage decrease in price produces a larger percentage increase in quantity demanded. Inelastic demand exists when a small percentage decrease in price produces a smaller percentage increase in quantity demanded.
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Indicate whether the statement is true or false
Which of the following statements regarding the difficulties of performing a post-investment audit is true?
a. The actual figures might be in a different format than the original estimates. b. The information might be difficult to quantify. c. Project returns fluctuate considerably over time so that results gathered at a single point in time might not be representative of the entire project. d. All of the above are true.
A substantive rule generally has an impact on the internal processes by which administrative agencies function or prescribes methods of enforcing rights
Indicate whether the statement is true or false
Which of the following do you not have to consider when evaluating the quality of Internet resources?
A) the date the content was written or revised B) sources for factual information on a page C) the sponsorship of the website D) the name, address, and telephone number for verification E) the number of links to related newsgroups and listservs