At all the points above the midpoint on a linear demand curve, the value of price elasticity of demand is:

Over the past 40 years, the most frequent target for the Fed's monetary policy has been the: a. prime interest rate

b. federal funds rate. c. M1 money supply. d. M2 money supply. e. required reserve ratio.

In a competitive market, sales go to those producers who are willing to supply the product at the lowest price

a. True b. False Indicate whether the statement is true or false