"The Department of Agriculture came out today with its prediction for food price next year—4 to 5 percent increases on top of this year's already steep gains… Eggs, dairy products and cereals are up 10 percent
But the USDA says another big part of the American diet has seen only moderate price increases. Beef, poultry and pork will be up only 3 percent this year." Calculate Jennika's price elasticity of demand for pork if she decreases her consumption by 4 percent. A) 1.25
B) 1
C) 0.75
D) 0.66
A
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A) frictional unemployment B) cyclical unemployment C) structural unemployment D) natural rate of unemployment
If a firm notices that its average revenue equals the current market price, that firm must be participating in a competitive market
a. True b. False Indicate whether the statement is true or false
What is the criticism leveled against deposit insurance by the FDIC?
What will be an ideal response?
A _______ monopoly is an industry in which it makes economic sense to have only one provider.
A. competitive B. natural C. original D. specific