Use the data in the table below to answer the following question.PriceQuantity Demanded$201218171620142412301036840644448The price elasticity of demand (based on the midpoint formula) when price increases from $10 to $12 is

A. -1.37.
B. -0.33.
C. -1.
D. -3.29.

Answer: C

Economics

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Which of the following statements is (are) true of the prisoners' dilemma? (i) Rational self-interest leads neither party to confess. (ii) Cooperation between the prisoners is difficult to maintain. (iii) Cooperation between the prisoners is individually rational

a. (ii) only b. (ii) and (iii) c. (i) and (iii) d. (i), (ii), and (iii)

Economics

If the economy is operating at full employment when its aggregate demand curve is AD2, then a further increase in consumption and investment spending will cause:


Refer to the figure above.
A. Cost-push inflation, and the new equilibrium output will be less than Q2
B. Demand-pull inflation, and the new equilibrium output will be less than Q2
C. Demand-pull inflation, and the new equilibrium output will be more than Q2
D. Cost-push inflation, and the new equilibrium output will be more than Q2

Economics