Suppose Colby buys 20 gallons of gasoline a week when gas costs $3.00 a gallon and only 18 gallons of gasoline when it costs $3.25 . What is Colby's elasticity of demand for gasoline?

What is monetary policy?

What will be an ideal response?

At a perfectly competitive firm's short-run break-even price

A) P = ATC. B) TR is more than TC. C) the average cost is below the total revenue line. D) P > AVC, but P < AFC.