If the demand curve for orange juice is expressed as Q = 2000 - 500p, where Q is measured in gallons and p is measured in dollars, then at the price of $3, elasticity equals
A) -0.33.
B) -3.
C) -9.
D) -17.
B
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The two most important categories of assets on the Fed's balance sheet are ________ and ________ because they earn interest
A) discount loans; coins B) securities; discount loans C) gold; coins D) cash items in the process of collection; SDR certificate accounts
Suppose a taxpayer has an income of $120,000 and a taxable income of $80,000, and pays $20,000 in taxes. If the taxpayer says she is taxed at a 25 percent tax rate, she is referring to the
A. Effective tax rate. B. Marginal tax rate. C. Nominal tax rate. D. Average tax rate.
By the completeness property, if neither A > B nor B > A hold, then:
A. the consumer is indifferent between A and B. B. the consumer prefers bundle A. C. the consumer prefers bundle B. D. None of the statements is correct.
A monopolistically competitive firm can raise its price somewhat without fear of great change in unit sales because of
A. Brand loyalty. B. Economies of scale. C. Large market shares of firms in the market. D. Inelastic demand.