A good with a unit elastic demand has a:
A. perfectly horizontal demand curve.
B. perfectly vertical demand curve.
C. price elasticity greater than 1.
D. price elasticity equal to 1.
D. price elasticity equal to 1.
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In the long run, monopolistic competition starts to look like
A. monopoly. B. a market in disequilibrium. C. perfect competition. D. oligopoly.
Refer to the above table. If the price of a movie download is $2 and the price of an apple pie is $5 and the consumer has $33, the rational consumer will purchase
A. 2 movies and 2 apple pies. B. 2 movies and 3 apple pies. C. 4 movies and 5 apple pies. D. 5 movies and 6 apple pies.
Which of the following statements is true?
A) The marginal revenue of a monopolistically competitive firm will be positive at high prices and negative at low prices. B) Because the demand curve for a monopolistically competitive firm is downward-sloping its marginal revenue will be negative. C) The marginal revenue of a monopolistically competitive firm will be always be positive. D) The marginal revenue of a monopolistically competitive firm will be positive at low prices and negative at high prices.
Presently, GDP is ________ to compensate for the costs of environmental damage
A) fully adjusted B) partially adjusted C) adjusted on a chain-weight basis D) not adjusted