The country with the highest child poverty rate in the industrial world is __________.
Fill in the blank(s) with the appropriate word(s).
the United States
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Shrimp is an increasingly popular part of the American diet. Louisiana shrimpers who represent the bulk of the U.S. industry were almost all put out of business by Hurricane Katrina
How did this affect the equilibrium price and quantity of shrimp?
Determinants of the price elasticity of supply are:
A. adjustment time, whether the good is a luxury or a necessity. B. availability of inputs, adjustment time. C. flexibility of the production process, whether the good is a luxury or a necessity. D. availability of inputs, whether the good is a luxury or a necessity. AACSB: Reflective Thinking
In perfect competition, marginal revenue, average revenue, and ______ are all equal.
a. percentage revenue b. quantity c. total revenue d. price
If demand for a good is perfectly inelastic, then
A. a price increase would cause a fall in total revenue. B. a price increase would cause no change in quantity demanded. C. a price increase would cause an increase in quantity demanded. D. a price increase would cause a fall in quantity demanded.