This graph shows elasticity of demand because the distance between Q1 and Q2 is ______ the distance between P1 and P2.
a. greater than
b. less than
c. the same as
d. irrelevant to
a. greater than
Economics
You might also like to view...
Between 1890 and 1914, the gold stock of the world _______________ and world prices (in general)
A) doubled; increased. B) tripled; increased. C) rose by 50%; increased. D) doubled; decreased. E) tripled; decreased.
Economics
An increase in the money supply is likely to reduce
A. money demand. B. interest rates. C. the general price level. D. nominal income.
Economics