It is estimated that a 10 percent inflation in the United States would bear a shoe-leather cost of approximately ________ percent of GDP

Successful price discrimination cannot take place if

A) customers are not able to resell the product. B) the market is perfectly competitive. C) the demand curve facing the firm is downward sloping. D) the market can be segmented into different buyer groups.

A price elasticity of demand of 2.3% implies

a. Demand is inelastic b. Demand is elastic c. Demand is unitary elastic d. Demand is perfectly elastic