Macroeconomics stresses
a. resource allocation and income distribution.
b. inflation and unemployment.
c. resource allocation and inflation.
d. unemployment and income distribution.
b
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Business executives who think the demand for their product is very elastic at the current price are assuming
A) the demand will become less elastic at a higher price. B) they will be able to sell more units at a higher price. C) they will sell fewer units but receive more dollars in sales revenue at a higher price. D) they will sell more units and receive more dollars in sales revenue at a lower price. E) they will sell more units but receive fewer dollars in sales revenue at a lower price.
When comparing elasticities between two different linear demand curves, the curve that is flatter has greater price elasticity at every given price
Indicate whether the statement is true or false