The absolute price elasticity of demand for a vertical demand curve
A. is infinite.
B. is 0.
C. is 1.0.
D. depends on where one is on the demand curve.
Answer: B
Economics
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The age-earnings cycle is an earnings profile of an individual throughout the person's lifetime. The profile shows that
A) earnings usually peak at age 25 and then decline. B) earnings gradually rise until they peak around age 50. C) earnings and age have no particular correlation. D) younger workers have the most productivity.
Economics
When private ownership rights are well-defined and enforced, owners of physical assets and resources will have an incentive to do which of the following?
What will be an ideal response?
Economics