For a linear demand curve:
A. elasticity is constant along the curve.
B. elasticity is unity at every point on the curve.
C. demand is elastic at low prices.
D. demand is elastic at high prices.
Answer: D
Economics
You might also like to view...
An increase in the time spent on job search
A) decreases the unemployment rate. B) decreases the real wage rate. C) decreases the labor force participation rate. D) decreases potential GDP. E) decreases the demand for labor.
Economics
Banks that suffered significant losses in the 1980s made the mistake of
A) holding too many liquid assets. B) minimizing default risk. C) failing to diversify their loan portfolio. D) holding only safe securities.
Economics