Refer to the information provided in Figure 5.2 below to answer the question(s) that follow.
?Figure 5.2Refer to Figure 5.2. At Point C the price elasticity of demand is -1. Along line segment AB of the demand curve, the demand is
A. inelastic.
B. elastic.
C. unit elastic.
D. either elastic or inelastic, depending on whether price increases or decreases.
Answer: B
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Use the following market data to answer the question below. Price per UnitQuantity Purchased by ConsumerQuantity Sold by Producer$52,0000101,800300151,600600201,400900251,2001,200301,0001,500In the market shown in the table, the marginal cost of 600th unit is
A. $20. B. $15. C. $10. D. $25.
Which of the following is a function of the headquarters of an M-form organization?
a. To take all decisions relating to the functioning of the various divisions. b. To measure and compare the performance of the different divisions. c. To solve the problems faced at lower levels of its different divisions. d. To ensure that all divisions work harmoniously with each other.
Which of the following is the term used to describe a country that has demonstrated the ability to catch up to the technology leaders by investing in both physical and human capital?
a. A dependent economy. b. A converging economy. c. An advancing economy. d. A diverging economy.
If Japan has a current account surplus, then it must:
A. have an offsetting capital account deficit. B. also have a surplus in its capital account. C. import more goods than it exports. D. have a positive balance of payments.