Explain whether you would expect the elasticity of supply to be highly elastic or inelastic for fresh cut flowers and why
What will be an ideal response?
The elasticity of supply is very inelastic for fresh cut flowers. These flowers are perishable and quickly become worthless. The seller will accept almost any market price.
Economics
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Which researcher argues that the slave system and its enforcement mechanisms prevented slave individualism from emerging within the system itself?
(a) Robert Fogel (b) Stanley Engerman (c) Stanley Elkins (d) Kenneth Stampp
Economics
The invisible hand of the marketplace acts to allocate resources efficiently, but it does not necessarily ensure that resources are allocated fairly
a. True b. False Indicate whether the statement is true or false
Economics