Regarding the price elasticities of demand, which of the following statements is true?
a. Price elasticities vary considerably from product to product
b. Luxurious goods are generally less price elastic.
c. Necessities are generally more price elastic.
d. All of these statements are true.
a
Economics
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Fixing a payment schedule in an agreement:
a. allows the seller to easily access loanable funds. b. increases the uncertainty associated with the cost of production. c. allows the seller to charge a high price for his product. d. ensures the delivery of goods at a high price.
Economics
A consumption good that would be counted in GDP would be a:
A. new bicycle. B. vintagebottle of wine purchased at an auction. C. washing machine purchased at a garage sale. D. A newly issued stock.
Economics