If demand is elastic and the price of a product decreases by 100 percent, then
A) the change in quantity demanded is less than 100 percent.
B) the change in quantity demanded is equal to 100 percent.
C) the change in quantity demanded is greater than 100 percent.
D) the decrease in quantity demanded is greater than 0 percent.
Answer: C
Economics
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If the quantity of investment has fallen but interest rates have risen, then
a. this cannot be explained in the classical model. b. savings fell. c. savings rose. d. investment demand rose.
Economics
Figure 5-9
In Figure 5-9, the consumer's marginal rate of substitution at his optimum choice of X and Y is
a.
?1.
b.
16.
c.
8.
d.
?8.
Economics