Variables A and B are directly related. If we plot A on the horizontal axis and B on the vertical axis, the line that connects combinations of A and B in a two-variable diagram is
A) parallel to the horizontal axis.
B) downward-sloping (left to right).
C) parallel to the vertical axis.
D) upward-sloping (left to right).
E) a or c
D
Economics
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Under the binding price ceiling of $4, what would be the black market price?
A. $14 B. $12 C. $16 D. $10
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Picture a linear downward-sloping demand curve. If the price continues to fall, price elasticity will
a. decrease b. increase c. remain unchanged d. approach infinity e. increase or decrease, depending on the character of the good
Economics