Moving downward on a downward sloping linear demand curve, the absolute value of the price elasticity of demand
A) is constant.
B) increases continuously.
C) decreases continuously.
D) may either increase or decrease.
C
Economics
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(Advanced analysis) Answer the question on the basis of the following information. The demand for commodity X is represented by the equation P = 100 - 2Q and supply by the equation P = 10 + 4Q. Refer to the given information. If demand changed from P =
100 - 2Q to P = 130 - Q, the new equilibrium quantity is: A. 15. B. 20. C. 24. D. 32.
Economics
The term “satisficing” indicates an optimal choice.
Answer the following statement true (T) or false (F)
Economics