Tax influence of the elasticity of supply
What will be an ideal response?
Perfectly elastic supply = buyers pay
Perfectly inelastic supply = sellers pay
Economics
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Firms that maximize sales always produce more than profit-maximizing firms
a. True b. False Indicate whether the statement is true or false
Economics
In the short run, open-market sales
a. increase the price level and real GDP. b. decrease the price level and real GDP. c. increases the price level and decreases real GDP. d. decreases the price level and increases real GDP.
Economics