When the demand curve is linear, price elasticity of demand:
a. remains constant along the curve.
b. is negative in the lower half of the curve.
c. decreases as one moves down along the curve.
d. is less than one in the upper half of the demand curve.
c
Economics
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People who need life-saving drugs cannot do without them and surely will be willing to pay very high prices for them. So why can't producers of life-saving drugs charge any price that they wish?
What will be an ideal response?
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Recent data and analysis confirms that minimum wage laws have significantly increased teenage unemployment
a. True b. False Indicate whether the statement is true or false
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