A price elasticity of demand of 2.3% implies
a. Demand is inelastic
b. Demand is elastic
c. Demand is unitary elastic
d. Demand is perfectly elastic
b
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Juliana, Gabrielle, and Marcela want to start a business they are the only owners and the company does not issue stock. The type of business they want to start is a
A) partnership. B) corporation. C) sole proprietorship. D) Any of the above could be correct.
The types of goods Japan exports and imports appear to be well explained by
A) Japanese endowments of factors of production (e.g. land, labor, capital, natural resources). B) high and rising Japanese tariffs. C) advertising and other sales promotion efforts. D) All of the above.
Dividends are paid by corporations out of _____ leading to _____
a. pre-tax income; dividends escaping taxation b. pre-tax income; the double taxation of saving c. after-tax income; dividends escaping taxation d. after-tax income; the double taxation of saving
Marginal social cost includes both the marginal private cost and the marginal external cost that production imposes on society
a. True b. False