If the price elasticity of demand for a product equals 1, as its price rises the
A) quantity demanded increases.
B) total revenue increases.
C) quantity demanded does not change.
D) total revenue does not change.
D
Economics
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The figure above shows the marginal social cost curve of generating electricity and the marginal private cost curve. The difference between the marginal cost curve and the marginal social cost curve equals
A) marginal private cost. B) private cost. C) external cost. D) marginal external cost. E) Coasian cost.
Economics
The circular flow diagram shows that the flow of payments to the factors used to produce goods and services exceeds the flow of payments for final goods and services
Indicate whether the statement is true or false
Economics