A freeze in Florida's orange growing regions will:
A) result in a sharp increase in the price of oranges in the short run because demand and supply are highly inelastic.
B) result in a sharp increase in the price of oranges in the short run because demand and supply are highly elastic.
C) result in a sharp decrease in the price of oranges in the short run because demand is highly inelastic and supply is highly elastic.
D) result in little change in the price of oranges in the short run because supply is infinitely elastic.
A
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What does unlimited liability mean?
A) The personal assets of the owners cannot be claimed if the business is bankrupt. B) Only employees can have a claim on the assets of the business. C) The owners of the business are personally responsible for paying expenses incurred by the business. D) Anybody with a liability against a firm can claim up to three times their liability.
Increases in __________ have been responsible for most of the economic growth in the U.S. over the last 50 years
a. imports. b. productivity. c. average hours. d. the employment-to-population ratio. e. tax revenues.