What is measured on the vertical axis of the aggregate demand/aggregate supply model?
A) real Gross Domestic Product (GDP)
B) nominal income
C) the price level
D) the interest rate
C
Economics
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Why would a monopolist never price in the inelastic portion of the demand curve?
What will be an ideal response?
Economics
The price elasticity of supply is equal to
A) the change in quantity supplied divided by the change in price. B) the percentage change in quantity supplied divided by the percentage change in price. C) the value of the slope of the supply curve. D) the percentage change in price divided by the percentage change in quantity supplied.
Economics