Price elasticity remains constant along a straight-line demand curve
a. True
b. False
Indicate whether the statement is true or false
False
You might also like to view...
Some software firms require that applicants have passed certain standardized certification tests before being hired. This policy is necessary when
A) cheap talk does not provide a credible signal. B) cheap talk does provide a credible signal. C) the interests of the firm and the applicant converge. D) the applicant is honest about her abilities.
When a seller knows more about the condition of a used car than the buyer does, the information is said to be asymmetric
a. True b. False
Which of the following is nonexcludable and rivalrous?
a. Common resource b. Positive externality c. Intellectual property d. Public good
Economic profits disappear when:
A.) Price is greater than marginal costs. B.) Price falls to the level of minimum average total cost. C.) Price is greater than average variable cost. D.) Firms exit an industry.