A line is tangent to a curve if it
a. crosses the curve at one point
b. touches the curve at one point, without crossing it
c. crosses the curve at a minimum of two points
d. never touches the curve
e. forms a right triangle with the curve
B
Economics
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For consumers with a binding borrowing constraint, a decrease in the real interest rate ________
A) decreases consumption now, and in the future B) increases consumption now, and in the future C) decreases consumption now, and increases future consumption D) has no impact on consumption
Economics
When the price of a good is $5, the quantity demanded is 100 units per month; when the price is $7, the quantity demanded is 80 units per month. Using the midpoint method, the price elasticity of demand is about
a. 0.22. b. 0.67. c. 1.33. d. 1.50.
Economics