The table above gives the demand schedule for snow peas. The price elasticity of demand between $6.00 and $7.00 per bushel is
A) 1.0.
B) 2.0.
C) 2.6.
D) 5.0.
C
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With labor migration, the country of origin experiences:
A. An increase in output and a rising wage rate B. An increase in output and a falling wage rate C. A decrease in output and a falling wage rate D. A decrease in output and a rising wage rate
If Slovenia were a large country in world trade, then if it imposes a large set of tariffs on its imports, this must
A) decrease the internal price of imports below the world market rate. B) cause retaliation on the part of its trade partners. C) harm Slovenia's real income. D) improve Slovenia's real income. E) improve the real income of its trade partners.
Cell phones and bluetooth headsets are complements. A decrease in the price of bluetooth headsets would cause which of the following in the market for cell phones?
A. The equilibrium price of cell phones would decrease and the equilibrium quantity would increase. B. The equilibrium price and quantity of cell phones would increase. C. The equilibrium price and quantity of cell phones would decrease. D. The equilibrium price of cell phones would increase and the equilibrium quantity would decrease.
Price reductions are often used as an effective way to increase sales in monopolistic competition.
Answer the following statement true (T) or false (F)