On most days the price of a rose is $1 and 80 roses are purchased. On Valentine's Day the demand increases so that the price of a rose rises to $2 and 320 roses are purchased. Therefore, the price elasticity of
A) demand for roses is about 1.8.
B) demand for roses is about 0.55.
C) supply of roses is about 1.8.
D) supply of roses is about 0.55.
C
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Answer the next question based on the following list of factors that are related to the aggregate demand curve. 1) Real-Balances Effect2) Household Expectations3) Interest-Rate Effect4) Personal Income Tax Rates5) Profit Expectations6) National Income Abroad7) Government Spending8) Foreign Purchases Effect9) Exchange Rates10) Degree of Excess CapacityA change in net export spending would most likely be caused by changes in ________.
A. 5 and 6 B. 2 and 3 C. 7 and 8 D. 6 and 9
A market which consists of many sellers and only one buyer is called a:
A. monopsony. B. monopoly. C. oligopoly. D. monopolistic competitor.
A manager wishes to estimate an average cost equation of the following form: C = a + bQ + cQ2whereQ is the level of output. Letting Z = Q2 and using least-squares estimation, the manager obtains the following computer output: 
Given the above information, which of the parameter estimates are statistically significant at the 1% significance level?
A. All parameter estimates except b? are statistically significant. B. â is not statistically significant, but all the rest of the parameter estimates are significant. C. c? is not statistically significant, but all the rest of the parameter estimates are significant. D. All parameter estimates are statistically significant.
Price is a limited decision variable in which of the following market organizations?
A. monopoly B. perfect competition C. monopolistic competition D. oligopoly