Which of the following examples shows a price change in the most elastic range of a linear demand curve?
a. The price of CloseShave electric razors falls from $120 each to $100 each.
b. The price of CloseShave electric razors falls from $100 each to $85 each.
c. The price of CloseShave electric razors falls from $85 each to $80 each.
d. The price of CloseShave electric razors increases from $80 each to $100 each.
a. The price of CloseShave electric razors falls from $120 each to $100 each.
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The import demand curve shows the amount of the home country's:
a. surplus at various prices below the "no-trade" equilibrium. b. shortage at various prices below the "no-trade" equilibrium. c. equilibrium "no-trade" quantity demanded. d. surplus at various prices above the "no-trade" equilibrium. e. shortage at various prices above the "no-trade" equilibrium.
The sum of the number of employed people and the number of unemployed people equals the labor force of a country
a. True b. False Indicate whether the statement is true or false