After a massive promotional campaign of Justin Bieber's latest music album, the producers decided to raise the prices on the album. This implies that the producers expect the promotion to have made the demand for the album
a. More elastic
b. Unitary elastic
c. Perfectly elastic
d. More inelastic
d
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Macroeconomics deals with the concept of: a. individual households. b. market structures
c. market concentration. d. economic growth.
A monopoly is most likely to be temporary if the monopoly power is derived from:
What will be an ideal response?
Because low tariffs have a high ratio of benefits to costs, they are an especially efficient way for nations to achieve full employment and growth
Indicate whether the statement is true or false
AutoCorp is a reputed automobile manufacturer while SUVmart is an independent distributor who buys automobiles from the former. During the current year, SUVmart wants to buy its quota of 250 Rhinos from AutoCorp. For the quota system to work efficiently, AutoCorp must commit credibly to the:
A. retail price. B. double markup. C. exclusive territory. D. wholesale price.