If the price elasticity of supply of corn is 3.12, then is the supply of corn elastic or inelastic?
What will be an ideal response?
Because the price elasticity of supply exceeds one, the supply of corn is elastic.
Economics
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Which of the following guides sensible decisions regarding the management of business risk in a market system?
A. The profit and loss system B. The "invisible hand" C. Taxes and subsidies D. Consumer sovereignty
Economics
Human needs and wants are
a) always fixed. b) unlimited. c) limited. d) likely to decrease over time
Economics