Refer to Figure 2.1. At point B, demand is:
A) small.
B) inelastic, but not completely inelastic.
C) unit elastic.
D) elastic, but not infinitely elastic.
E) infinitely elastic.
D
Economics
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The free-rider problem arises when the number of beneficiaries is large and exclusion of any of them is impossible
a. True b. False Indicate whether the statement is true or false
Economics
In the labor market shown below , if the demand for labor increases so that the equilibrium wage rate goes above the minimum wage Wm, then the minimum-wage law will:
A. Cause higher unemployment
B. Cause lower unemployment
C. Labor supply to decrease
D. Become ineffective in the market
Economics