Price elasticity of demand depends on all of the following except:
A. the amount of time a consumer has to adjust to price changes.
B. the sensitivity of firms' output to changes in the product's price.
C. the consumer's income.
D. the availability and closeness of substitutes.
Answer: B
Economics
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What was not a grievance of the Continental Congress that met in October 1774?
a. Taxes had been imposed upon the colonies by the British Parliament. b. The colonies were not permitted to trade with nations other than England. c. England had confiscated western colonial land. d. Persons could be transported out of the colonies for trials.
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In the linear breakeven model, the relevant range of output is that range where the linearity assumptions of the model are assumed to hold
a. true b. false
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