Seth is a competitive body builder. He says he has to have his 12-oz package of protein powder to "feed his muscles" every day. On the basis of this information, what can you conclude about his price elasticity of demand for protein powder?
A) It is perfectly inelastic. B) The price elasticity coefficient is 1.
C) It is elastic. D) It is perfectly elastic.
A
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If the resource market is perfectly competitive:
a. the market demand for the resource is perfectly elastic. b. the market demand for the resource is perfectly inelastic. c. the suppliers can affect the input price by increasing or reducing their supply. d. the input price to each firm is constant. e. the supply of the resource is perfectly inelastic.
U.S. stock markets are based on the principle of
a. merit recommendations. b. dominance of the SEC. c. full disclosure subject to standard accounting procedures. d. disclosure only of related party transaction. e. all of the above.
The Bureau of Labor Statistics counts a member of a surveyed household as an adult if that person is at least
a. 14 years old. b. 16 years old. c. 18 years old. d. 21 years old.
Which of the following represents a legal? body, separate from any? individual, that can possess property and conduct? business?
A. Corporation B. Sole proprietorship C. Limited liability company D. Master limited partnership E. Partnership