In the United States, some state governments set tiered prices for electricity. These tiered prices lead to budget lines that are:
A. upward-sloping.
B. kinked.
C. horizontal at a specific level of electricity consumption.
D. vertical at a specific level of electricity consumption.
B. kinked.
You might also like to view...
Which of the following describes the difference between the market demand curve for a perfectly competitive industry and the demand curve for a firm in this industry?
A) The market demand curve is downward sloping; the firm's demand curve is a vertical line. B) The market demand curve is downward sloping; the firm's demand curve is a horizontal line. C) The market demand curve is a horizontal line; the firm's demand curve is downward sloping. D) The market demand curve can not have a constant slope; the firm's demand curve has a slope equal to zero.
International borrowing and lending may be interpreted as one form of
A) intertemporal trade. B) intermediate trade. C) trade in services. D) unrequited international transfers. E) aid to offset trade advantages.