Which of the following could be the price elasticity of demand for a good for which an increase in price would increase revenue?
a. 0.3
b. 1
c. 1.8
d. None of the above could be correct.
a
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For allocative efficiency to hold
A) average total cost is minimized in production. B) average variable cost is minimized in production. C) price must equal the marginal cost of the last unit produced. D) price must equal marginal revenue of the last unit sold.
Inflation was a problem during the Great Depression
Indicate whether the statement is true or false
Most of the change from 1991 to 2000 in U.S. net capital outflow as a percent of GDP was due to a(n)
a. decrease in U.S. investment. b. decrease in U.S. national saving. c. increase in U.S. investment. d. increase in U.S. national saving.
Discuss what is meant by labor market rigidities and explain how they might cause the relatively high unemployment in Europe
What will be an ideal response?