The elasticity of any demand curve is the same as its slope
a. True
b. False
Indicate whether the statement is true or false
False
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If producing more output increases average cost then
A) there are diseconomies of scale. B) there are economies of scope. C) there are diseconomies of scope. D) there are no economies of scale.
Suppose that the income elasticity of demand for fresh vegetables is 0.26 . If buyers' incomes rise by 10 percent, then
a. the demand curve for fresh vegetables will shift to the left b. the quantity of fresh vegetables demanded will rise by 2.6 percent c. the quantity of fresh vegetables demanded will rise by 12.6 percent d. there will be a movement down and to the right on the demand curve for fresh vegetables e. there will be a movement up and to the left along the demand curve for fresh vegetables