Inelastic supply occurs whenever the elasticity of supply value is
A) positive and > 1. B) positive and < 1.
C) any positive number. D) negative and < -1.
B
Economics
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If the equilibrium price of aspirins is $2.50 and a price ceiling is imposed at $3.00, the eventual result after market adjustment will be a(n):
a. surplus. b. shortage. c. accumulation of inventories. d. equilibrium.
Economics
Empirical evidence suggests that more digital cameras are being sold today than one year ago, and the selling price has decreased. The probable reason for this could have been an increase in supply
a. True b. False Indicate whether the statement is true or false
Economics