In order to ensure consistency across goods and services, elasticities should always be calculated based on absolute changes in quantity demanded
Indicate whether the statement is true or false
FALSE
Economics
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If the total cost of production for 1000 widgets is $2000 and marginal cost is constant at $1, what is the average fixed cost for the 1000 widgets?
A) $2 B) $1.50 C) $1 D) $0.50
Economics
When inflation comes from the supply side, inflation and unemployment are positively correlated. Does this mean that monetary and fiscal policymakers can escape the trade-off between inflation and unemployment?
What will be an ideal response?
Economics