Sally is an average shopper, with average income. When she is in the store she buys a few items which cost more than $20, several items which cost between $5 and $20, and many items which cost less than $1 . The price elasticity of Sally's demand for these goods most likely ____
a. increases as the price decreases
b. decreases as the price decreases
c. increases as the price increases
d. decreases as the price increases
e. remains constant over all price ranges
c
Economics
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Explain the concepts of absolute advantage and comparative advantage. Is it possible for a firm to have an absolute advantage in producing something without having a comparative advantage? Why or why not?
What will be an ideal response?
Economics
When gross private domestic investment exceeds depreciation, it can be concluded that:
A. the economy is exporting more than it imports. B. net investment is positive. C. the economy is importing more than it exports. D. net investment is negative.
Economics