If the demand curve for comic books is expressed as Q = 10,000/p, then demand has a unitary elasticity
A) only when p = 10,000.
B) only when p = 100.
C) always.
D) never.
C
Economics
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The concept of "the invisible hand" suggests that to attain efficiency, the government should
A) guide economic activity. B) set prices. C) leave prices and output decisions to the competitive market. D) regulate all production decisions, but not price decisions. E) make sure that a command system is used to allocate resources.
Economics
A general equilibrium analysis of a price change in the corn chip market would include an investigation of the impacts in
A) the television market. B) the coffee market. C) the salsa market. D) All of the above.
Economics