For a product with a rapidly increasing opportunity cost of producing additional units,
A) demand is price elastic.
B) supply is price elastic.
C) demand is price inelastic.
D) supply is price inelastic.
E) the demand curve is vertical.
D
Economics
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As contrasted to the mainstream view, Keynesian economists believe that ________ than mainstream economists believe
A) the multiplier effect is larger B) the burden of government debt on future generations is larger C) fiscal stimulus is weaker D) potential GDP is smaller E) the real GDP growth rate is higher
Economics
Refer to Figure 9-1. Under autarky, the deadweight loss is
A) $0. B) $30. C) $15. D) $40.
Economics