The supply of paintings by Van Gogh is most likely to be
a. of infinite elasticity because supply is limited
b. of high elasticity because supply is limited
c. elastic because the paintings are luxury goods
d. inelastic because supply is limited
e. unit elastic
D
Economics
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A normative economic statement can be proven either true or false
a. True b. False Indicate whether the statement is true or false
Economics
For years, Intel was able to charge a higher price for microchips because:
a. it had a higher quality product than its rivals. b. it spent less on advertising than its rivals. c. consumers knew that Intel had the best employees. d. Intel relied more on foreign labor. e. of its successful product differentiation.
Economics