Redbox rents DVDs for $1 per day via self-service kiosks located across the United States. In 2007, each kiosk averaged about 50 rentals per day. Suppose Redbox increases their daily price to $1.50
What is the price elasticity of demand if rentals decrease by 20 per day? A) 1.25
B) 1.33
C) 1
D) 0.8
A
Economics
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If the quantity of money supplied exceeds the quantity of money demanded, at a point in time: a. the price level in the economy will fall
b. the equilibrium interest rate will fall. c. the equilibrium interest rate will fall. d. the money demand curve will shift to the right. e. the money demand curve will shift to the left.
Economics
Total welfare gains from trade to the economy can be measured by the sum of consumer and producer surplus
a. True b. False Indicate whether the statement is true or false
Economics