At a price of $8 per dozen, Chuy sells 40 dozen homemade tamales per week. When he raised his price to $12 per dozen, he still sold 40 dozen per week. Based on this information, the demand for his tamales is

Differentiate between an oligopoly and a monopolistic competition on the basis of the number of firms and the degree of product differentiation

What will be an ideal response?

The "life cycle" hypothesis sates that

a. MPC remains constant as national income rises b. MPC varies with age c. transitory income determines consumption d. MPC varies with permanent income e. consumption spending is independent of income