Refer to Figure 6-6. As price falls from PA to PB, the quantity demanded increases most along D1; therefore
A) D1 is more elastic than D2 or D3 B) D1 is more inelastic than D2 or D3.
C) D1 is elastic at PA but inelastic at PB. D) D1 is unit elastic.
A
Economics
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Based on Table 9.3, the capital account balance is equal to
A) +25. B) -25. C) -125. D) +125. E) -225.
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According to the infant-industry argument, protection should be withdrawn from an infant industry when the companies in the industry
A) are listed on the domestic stock exchange. B) become profitable. C) double their sales revenues. D) reach a sufficient size to compete with foreign firms.
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