Refer to the above table. For which prices is demand unit-elastic?
A) in a range of prices below $6.50
B) in a range of prices above $6.50
C) in a range of prices between $5 and $10
D) in a range of prices between $6 and $6.50
D
You might also like to view...
The rate of interest banks charge other banks for overnight loans of reserves is the
A) prime rate. B) discount rate. C) federal funds rate. D) real rate.
If firms are paying efficiency wages, they:
A. may be reluctant to increase nominal wages when aggregate demand increases. B. are highly vulnerable to import competition. C. may be targeted for takeover by firms paying market wages. D. may be reluctant to cut wages when aggregate demand declines.
If a firm is able to produce ________ output even after reducing its labor workforce, this implies that the firm has excess labor.
A. more B. no C. the same amount of D. less
Which one of the following is a feature of all investments?
A. The future payments are typically risky B. The periodic payments they provide are regular C. They typically are short term D. They give the investor a stream of future payments, not just one payment