At point A of Figure 3 within Figure 3.1, demand is 
A. inelastic.
B. perfectly inelastic.
C. perfectly elastic.
D. elastic.
Answer: D
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The demand curve for hotel rooms is Q = 1100 - 2P. If the price of a hotel room is $50, then the price elasticity of demand for hotel rooms is
a. -0.1 c. -10 b. -1.0 d. zero
The slope of the budget line is determined only by the prices of the commodities purchased.
Answer the following statement true (T) or false (F)
Which of the following items are considered physical capital?
I. shares of Ford stock traded on the New York Stock Exchange II. the Taco Bell store nearest you III. the rental cars owned by Hertz Rental-A-Car IV. the salaries paid to Intel executives A) II and III B) I and IV C) I, II and III D) I, II and IV
A corporation has legal status like an individual citizen
a. True b. False Indicate whether the statement is true or false