Which of the following is more likely to have perfectly elastic or nearly perfectly elastic demand?
A) a textbook required for an economics course
B) the guitar produced by a master craftsman
C) milk produced by a Wisconsin dairy farmer
D) the services offered by the only allergist in the community
C
Economics
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Who are the members of the Financial Stability Oversight Council?
What will be an ideal response?
Economics
At the most basic level, the distinguishing characteristic of government that makes it different from private firms is its ability to
a. use coercive force against adults to modify their behavior or force them to pay for a good or service. b. direct resources in a manner that serves the public interest rather than the private interest of individuals. c. produce goods and services that people value. d. escape the constraints imposed by scarcity.
Economics