In the IS-LM-BP model, when the price variable decreases, the
A) LM curve shifts out.
B) IS curve shifts out.
C) LM curve shifts in.
D) BP curve shifts up.
A
Economics
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Absolute price elasticities are calculated for four commodities, and the values are: 0.009; 1.0; 3.3; and 4.1. Which indicates the most price-responsive situation?
A) 0.009 B) 1.0 C) 3.3 D) 4.1
Economics
J. J. Joubert, of the Joubert Dairy, tells his friend Jacques that the average revenue he gets for a liter of milk is $1 . We know then that $1 is the dairy's
a. marginal profit b. marginal cost c. price d. total revenue e. total profit
Economics