The price elasticity of demand for a commodity is determined primarily by the
a. size of the consumer surplus.
b. availability of good substitutes for the good.
c. incomes of consumers.
d. availability of complementary goods.
B
Economics
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George purchased a $10,000 bond that pays a nominal interest rate of 8 percent per year. George's marginal income tax rate is 28 percent. Over the last year, inflation was 3 percent
Find George's before-tax real interest rate and his after-tax real interest rate.
Economics
Refer to the graph shown, which depicts a perfectly competitive firm. When it is maximizing profit, the total profit earned by the firm represented is:
A. $275. B. $330. C. $220. D. $605.
Economics