A demand curve with unit elasticity can never touch either the vertical or horizontal axes
a. True
b. False
Indicate whether the statement is true or false
True
You might also like to view...
Refer to the figure below. In response to gradually falling inflation, this economy will eventually move from its short-run equilibrium to its long-run equilibrium. Graphically, this would be seen as 
A. long-run aggregate supply shifting leftward B. Short-run aggregate supply shifting upward C. Short-run aggregate supply shifting downward D. Aggregate demand shifting leftward
Marginal benefit is equal to the ________ benefit a consumer receives from consuming one more unit of a good or service
A) additional B) unintended C) total D) surplus
Something that would cause the long-run aggregate supply curve to shift to the right would be:
A. technological advance. B. discovery of a new oil reserve. C. increase in the growth rate of the labor force. D. All of these would shift the long-run aggregate supply curve to the right.
Costumarily, economists classify resources in to these major groups:
What will be an ideal response?