On a demand curve, demand is more elastic
A. At higher prices.
B. At lower prices.
C. At the middle price.
D. When demand is unitary.
Answer: A
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Suppose that a typical German factory can produce 20 cameras or 1 computer in an hour, and that a typical American factory can produce 10 cameras or 1 computer in an hour. The opportunity cost of 20 cameras in terms of computers in Germany is
A) 10 computers per camera. B) 2 computers per camera. C) 1 computer per camera. D) 1/20 of a computer per camera.
In order to implement average cost pricing regulation, it is necessary to provide a natural monopolist with a subsidy equal to the economic loss
a. True b. False Indicate whether the statement is true or false
The reason why inflation reduces the value of the multiplier is that part of the change in demand is
A. absorbed by price changes. B. saved rather than spent. C. matched by changes in supply. D. matched by changes in income.
Which of the following will cause the aggregate demand curve to shift to the left?
A. A decrease in business taxes. B. An improvement in technology. C. A decrease in consumer and business confidence because of a terrorist attack. D. A decrease in the interest rate.