A ________ line is a perfectly price elastic demand curve.
A. positively sloped
B. vertical
C. negatively sloped
D. horizontal
Answer: D
Economics
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Pam buys only thread and fabric, and she buys the quantities that maximize her utility. Her marginal utility from a spool of thread is 30 units and her marginal utility from a yard of fabric is 60 units
If the price of a spool of thread is $4, then you are sure that the price of a yard of fabric is ________. A) $4 B) $2 C) $8 D) $12
Economics
Refer to Scenario 10.1. How much profit will she make?
A) -996 B) 0 C) 1,296 D) 1,568 E) none of the above
Economics
Name at least three causes of unemployment.
What will be an ideal response?
Economics
The case for ________ is based on the theory of comparative advantage.
A. export subsidies B. free trade C. tariffs D. quotas
Economics