The price elasticity of demand for a particular good is influenced by which of the following factors?
a. b and c.
b. The income of the buyers.
c. The availability of substitutes.
d. The level of competition among sellers.
e. How many uses the good has.
a
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Suppose a business firm dumps its used car batteries into a river.
A. The company's actions constitute an external cost. B. The company's actions constitute an external benefit. C. The company's actions would be an example of the market system efficiently allocating resources. D. The company's actions damage no one but itself.
Recall the Application about price discrimination using refillable soda bottles to answer the following question(s).According to the Application, who are the customers who have a more elastic demand?
A. the consumers who bring refillable bottles to get a discount B. the consumers who buy the disposable bottles C. all consumers D. the consumers who do not buy soda through refillable or disposable bottles
If the wage rate were $200, how many workers would be hired?
A. 3
B. 4
C. 5
D. 6
A work stoppage by a union in solidarity with another union's cause is known as a
A) secondary boycott. B) sympathy strike. C) jurisdictional dispute. D) primary boycott.