If the demand for a product is elastic, then a rise in price will:
a. cause total spending on the good to increase.
b. cause total spending on the good to decrease.
c. keep total spending the same, but reduce the quantity demanded.
d. keep total spending the same, but increase the quantity demanded.
b
Economics
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Explain the process by which a private subsidy corrects an external benefit
What will be an ideal response?
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If a straight line passes through the point x = 14 and y = 3 and also through the point x = 4 and y = 10, the slope of this line is
A) seven-tenths. B) negative seven-tenths. C) negative 11 divided by 6. D) 6 divided by 11.
Economics