If consumers' buying decisions are not very sensitive to changes in price, then their demand is:
A. less elastic.
B. perfectly inelastic.
C. unit elastic.
D. more elastic.
Answer: A
You might also like to view...
Cross elasticity tells a manager that the product they produce is
A) a countercyclical good. B) a cyclical good. C) a luxury. D) a substitute or complement to other goods.
Initially, when workers are added, marginal product rises and marginal cost falls. Why is this the case?
a. Total product increases by a fixed amount with each additional employee.
b. The equipment is new, and no repair or maintenance costs have set in yet.
c. Marginal costs are fixed costs that are spread over a larger number of employees.
d. Each additional worker is adding more to the total output than the previous worker.
Unemployment insurance is:
A. offered by the government as a way to affect the level of seasonal unemployment. B. money that is paid by the government to people who are unemployed. C. offered by the government as a way to affect the level of cyclical unemployment. D. money that is paid to the government by employers who lay off employees.
Which type of business is the most difficult to set up?
A) sole proprietorship B) partnership C) corporation D) There is no difference in the difficulty of establishment.