It is Valentine's Day and Jason is desperately looking all over town for a dozen roses to give to Judy. Most likely, Jason's price elasticity of demand is:
a. infinitely large.
b. negative.
c. equal to one.
d. greater than one.
e. less than one.
e
Economics
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If the demand curve and the supply curve for a good are straight lines, then the deadweight loss that results from a tariff is represented on the supply-and-demand graph by
a. the area of one triangle. b. the area of one rectangle. c. the combined areas of two different triangles. d. the combined areas of two different rectangles.
Economics
Give the approximate importance of productivity as a source of economic growth in the United States and list the various sources which account for this productivity growth and their relative importance.
What will be an ideal response?
Economics