The fact that some people can afford to live in beautiful homes while others are homeless, is most directly an example of an economy facing the ________ part of one of the two big economic questions

The advantage of an isoelastic demand curve is that:

A. both price and income elasticities are constant along the curve. B. income elasticity is constant and price elasticity changes along the curve. C. price elasticity is constant and income elasticity changes along the curve. D. both price and income elasticity change along the curve.

A monopsony is a market in which

a. one firm is the sole producer of a good or service. b. one firm is the sole buyer of a good or service. c. firms encourage competition by starting "price wars" among competitors. d. firms collude in setting prices and levels of output.