The price elasticity of demand for a demand curve that has a zero slope is
A) zero.
B) one.
C) negative but approaches zero as consumption increases.
D) infinity.
D
Economics
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The responsiveness of demand to changes in income holding the good's relative price constant is
A) price elasticity of demand. B) income elasticity of demand. C) elasticity of supply. D) cross price elasticity of demand.
Economics
Economic profits are:
A. total revenue minus total opportunity cost. B. marginal revenue minus marginal cost. C. total revenue minus total cost. D. total profits of the economy as a whole.
Economics