Which of the following is false?
a. Products with more close substitutes have more elastic demand
b. The demand for any individual brand is less elastic than industry aggregate demand
c. Products with many complements have less elastic demand
d. In the long run, demand curves become more elastic
b
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Risk is typically measured:
a. by comparing the size of a firm to other firms operating in the market. b. by looking at the economic profit that a firm has earned in the past few years. c. by determining whether the bonds issued by a firm are of high or low value. d. by comparing how much the stock price fluctuates compared with an average firm. e. by comparing how much the price of the bond falls whenever the price of a firm's product rises.
Unless goods are Giffen goods, own-price elasticities of demand are always negative.
Answer the following statement true (T) or false (F)