Which of the following algebraic forms for a demand curve yields an isoelastic demand curve?

A) Q = a - b log(P) + c log(I)
B) Q = a - bP + cI
C) log(Q) = a - b log(P) + c log(I)
D) log(Q) = bP + cI

C

Economics

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Every economic model should include money as a variable. This statement is

A) true, because every transaction in the economy uses money. B) true, because the federal reserve is very important. C) false, because some transactions in the economy are transacted without money. D) false, because a model can get unnecessarily complex if it includes money.

Economics

When setting prices, the monopolist may choose to charge alternative customers different prices based on: a. geographical location. b. age

c. income. d. all of the above

Economics