The price elasticity of demand is defined as the magnitude of the
A) change in quantity demanded divided by the change in price.
B) change in price divided by the change in quantity demanded.
C) percentage change in quantity demanded divided by the percentage change in price.
D) percentage change in price divided by the percentage change in quantity demanded.
C
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In an oligopolistic market there are
A. few sellers. B. many sellers. C. many buyers. D. few buyers.
Describe the field of economics known as microeconomics
What will be an ideal response?
The phenomenon of underutilization of labor during a recession is called
A) labor stockpiling. B) investing in human capital. C) labor force stabilization. D) labor hoarding.
If the discouraged workers were included in the labor force,
a. the unemployment rate would fall. b. the labor force would decrease. c. the employment rate would rise. d. the unemployment rate would rise.