If the coefficient of elasticity is 25,
A) demand is 25%.
B) demand is about to change for the better.
C) demand is very elastic.
D) demand is very inelastic.
E) the law of demand hardly applies.
C
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During the production process Ajax Corporation releases pollution into the air. Ajax Corporation operates in a monopolistic competitive industry. Which of the following statements addresses the pollution situation?
A) Ajax is taking advantage of asymmetric information. B) This is an example of a market failure and is a reason for the government to regulate the industry. C) The quality of the product could be improved if the amount of pollution can be reduced. D) This is known as the lemons problem.
"When the balance of payments sums to zero is the only situation in which there is an equilibrium." Do you agree or disagree? Why?
What will be an ideal response?
Which part of the Federal Reserve determines monetary policy? How often does it meet? What does it set a target for?
To maximize profits, a firm should expand production as long as it is making profits.
Answer the following statement true (T) or false (F)