If the quantity of concert tickets sold decreases by 10 percent when the price increases by 5 percent, the price elasticity of demand over this range of the demand curve is:

A perfectly competitive firm is a price

a. giver. b. taker. c. maker. d. leader.

 Figure 18.1Refer to Figure 18.1. The United States has a comparative advantage in the production of:

A. bicycles. B. hang gliders. C. both bicycles and hang gliders. D. neither bicycles nor hang gliders.