A characteristic of the long run that is not available in the short run is that a firm is free to vary its output
Indicate whether the statement is true or false
FALSE
Economics
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All else being? constant, autonomous expenditure
A) increases as real GDP increases. B) increases as real GDP decreases. C) does not change with changes in real GDP. D) is assumed to be zero.
Economics
The opportunity cost of housing =
What will be an ideal response?
Economics
The price elasticity of demand measures the responsiveness of
A) supply to demand changes. B) equilibrium changes. C) quantity demanded to changes in the price. D) demand to supply changes. E) the price to changes in quantity demanded.
Economics
A change in price changes the quantity demanded and is represented by a movement along the demand curve.
Answer the following statement true (T) or false (F)
Economics