Average cost can be thought of as the cost per unit.

The dollar will depreciate against the euro when the European Central Bank raises interest rates

Indicate whether the statement is true or false

Jonah lives in a small town where there is only one Mexican restaurant. Which of the following is likely to be true about the price elasticity of demand for meals at the Mexican restaurant?

A) Demand is likely to be perfectly elastic. B) Demand is likely to be relatively elastic. C) Demand is likely to be relatively inelastic. D) Demand is likely to be perfectly inelastic.