Price elasticity of demand is defined as:
a. the slope of the demand curve
b. the slope of the demand curve divided by the price.
c. the percentage change in price divided by the percentage change in quantity demanded.
d. the percentage change in quantity demanded divided by the percentage change in price.
d
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What will happen if an economy transforms from being extractive to being inclusive?
A) The return-to-entrepreneurship schedule will shift leftward and the opportunity cost to entrepreneurship will increase. B) The return-to-entrepreneurship schedule will shift leftward and the opportunity cost to entrepreneurship will decrease. C) The return-to-entrepreneurship schedule will shift rightward and the opportunity cost to entrepreneurship will increase. D) The return-to-entrepreneurship schedule will shift rightward and the opportunity cost to entrepreneurship will decrease.
If a curve rises and then falls, it has a
A) slope that is negative and then positive. B) minimum. C) linear relationshi