Over a particular price range, if the quantity effect of a price decrease is larger than the price effect, it implies that:
A) demand is inelastic in the price range.
B) demand is elastic in the price range.
C) the demand curve is vertical in the price range.
D) the demand curve is upward sloping in the price range.
B
Economics
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The condition in which an individual consumer's budget is exhausted and the last dollar spent on each good yields the same marginal utility is called ________ ________
a. marginal utility b. consumer surplus c. consumer equilibrium d. total utility
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A decrease in the "Z" factors shifts the Fed rule to the right.
Answer the following statement true (T) or false (F)
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