To say individuals seek an "economically efficient" course of action is another way of saying they
A) waste precious resources.
B) are not concerned about the wellbeing of anybody else.
C) economize.
D) measure everything according to the bottom line: money.
C
Economics
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Using the notation Pt to designate this period's price level and Pt-1 to designate last period's price level, the formula for measuring the inflation rate from last period to this period is
A) [(Pt - Pt - 1 ) / Pt] × 100. B) [(Pt -1 - Pt) / Pt - 1] × 100. C) [(Pt - Pt - 1 ) / Pt - 1] × 100. D) [(Pt -1 - Pt) / Pt] × 100.
Economics
Explain under what conditions supply is very inelastic and elastic.
What will be an ideal response?
Economics