Which one of the following is true?
a. Nike has a more inelastic demand curve than shoes
b. The demand curve for gas is more elastic in the short-run than in the long-run
c. Cigarettes have a more elastic demands than televisions
d. Salt has a more inelastic demand than meat
d
Economics
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The primary objective of an imperfectly competitive firm is to:
A. maximize total revenue. B. charge the highest possible price. C. minimize total cost. D. maximize profit.
Economics
The economy pictured in the figure has a(n) ________ gap with a short-run equilibrium combination of inflation and output indicated by point ________. 
A. recessionary; A B. recessionary; C C. recessionary; B D. expansionary; A
Economics