Which product will have the most inelastic demand curve?

A microeconomic model CANNOT be used to

A) evaluate the impact of a price change on a firm's revenue. B) predict the impact of an increase in the minimum wage on unemployment. C) evaluate the fairness of a proposal to nationalize health insurance. D) evaluate the effect of an increase in stadium size on the price of a sport team's tickets.

An excess quantity supplied can be corrected by

A) a fall in price. B) legally fixing the price at its present level. C) a decrease in demand. D) an increase in supply.