Suppose we observe that as a firm increases its price its total revenue decreases. Which of the following is a possible value of its price elasticity of demand?
A. 0.25
B. 0.5
C. 1
D. 2
Answer: D
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When is the definition and enforcement of property rights especially difficult?
a. When many polluters harm a large group of people with the same pollutant. b. When a single polluter is harming a single person or entity. c. When land is owned by a corporation. d. When the benefits of prosecution are clear.
The value of net exports equals the value of
a. national saving. b. public saving. c. national saving - net capital outflow. d. national saving - domestic investment.
According to the text, the _______________ is currently the primary reserve currency
A) Chinese renmimbi B) euro C) U.S. dollar D) Japanese yen E) British pound
Suppose Well-Made Pharmaceuticals knows that its newest prescription drug can cause severe side-effects, but it doesn't inform the users of the prescriptions about these side-effects. When the side-effects become public knowledge after an investigation,
A. the demand curve will shift to the right. B. the price will decrease. C. the supply curve will shift to the left. D. the quantity will increase.