What happens to the equilibrium price when supply goes down?
A. the price stays the same
B. the prices goes up
C. the price goes up, and then goes down
D. the price goes down
Ans: B. the prices goes up
Economics
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If the elasticity of demand is -2.3 when calculated using the point elasticity method and -3.4 using the arc elasticity method, then
A) you should use the point elasticity. B) it is OK to use either one. C) there must be a mistake in the calculations. D) you should use the arc elasticity.
Economics
Because of their greediness, speculators are considered bad for exchange-rate markets
a. True b. False Indicate whether the statement is true or false
Economics