With the increased usage of cell phone services, what has happened to the price elasticity of demand for land-line telephone services?
A) The absolute value of the price elasticity coefficient has probably gone down.
B) It has become more price inelastic.
C) It has become more income elastic.
D) It has become more price elastic.
D
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In the long run, the unemployment rate
A) is equal to the expected unemployment rate. B) is zero. C) can take on any value. D) is equal to the natural unemployment rate. E) must be equal to the expected inflation rate.
Deposit insurance guarantees that:
A. depositors will get their deposits back, unless the bank's assets are illiquid. B. depositors will not get their deposits back, unless the bank is solvent and liquid. C. depositors will get their deposits back, unless the bank becomes insolvent. D. depositors will get their deposits back, even if the bank is insolvent.
The increase in total cost that results from producing one more unit of output is the marginal cost.
a. true b. false
Suppose that Figure 10.5 shows an industry's market demand, its marginal revenue, and the production costs of a representative firm. If the industry was perfectly competitive, the consumer surplus would be:
A. $2,450. B. $1,225. C. $612.50. D. $262.50.