Assume that a monopolist faces a linear demand curve and that it produces the output quantity where total revenue is maximized. At that output, the price elasticity of demand for the product is:

Which of the following factors of production is likely to be most productive?

a. A certified doctor working in a well-equipped hospital b. A medical student working as a volunteer in a rural health clinic c. A trained nurse without access to the latest medical technology d. A knowledgeable chemist without a degree in medical sciences e. A specialist doctor working in a hospital with poor infrastructure

The CPI is based on a representative group of goods called the market basket

Indicate whether the statement is true or false