If the price elasticity of demand is between -1 and - , then demand is inelastic
a. True
b. False
Indicate whether the statement is true or false
False
Economics
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Which of the following is the best example of opportunity cost?
A) a company's expenditures on a training program for its employees B) the rate of return on a company's investment C) the amount of money that a company can earn by depositing excess funds in a money market fund D) the profit that a company forgoes when it decides to drop one product line in favor of another one
Economics
If both market demand and supply decrease simultaneously, then equilibrium quantity will (be) ____ and equilibrium price will (be) ____
a. increase; increase b. indeterminate; decrease c. decrease; indeterminate d. decrease; decrease
Economics