On a linear demand curve, demand is ________ at the middle of the demand curve than it is at small quantities.
A. more elastic
B. less elastic
C. equally elastic
D. There is insufficient information in the question.
Answer: B
You might also like to view...
Suppose that the labor cost-total cost ratio in industry A is 82 percent while in industry B it is 21 percent. Other things equal, labor demand will be:
A. more elastic in industry A than in B. B. relatively inelastic in both industries A and B. C. more elastic in industry B than in A. D. relatively elastic in both industries A and B.
If a major league baseball player would be willing to work for $500,000 per year and is currently being paid $1,200,000 per year, the opportunity cost of his decision to play baseball is
A. $1,700,000. B. $500,000. C. $700,000. D. $1,200,000.
The reference base period for the CPI has an index number of
A) 100. B) 10. C) 1,000. D) 0. E) 1.
An individual's demand curve
a. represents the various quantities that a consumer is willing to purchase of a good at various prices. b. is derived from an individual's indifference curve map. c. will shift if preferences, prices of other goods, or income change. d. all of the above.