If the price elasticity of demand for canned soup is estimated at -1.62. What happens to sales revenue if the price of canned soup rises?
A) It falls by 162 percent. B) It rises.
C) It falls. D) It rises by 1.62 percent.
C
Economics
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Which statement holds true for the period of slavery in U.S. history?
(a) Slavery was a moral institution. (b) The system wasted natural resources. (c) It provided slaveholders with incentives to avoid purchasing farm implements. (d) It developed land and profitably produced agricultural goods for sale in world markets.
Economics
The most socially efficient market structure in the long run is: a. perfect competition
b. monopolistic competition. c. oligopoly. d. monopoly.
Economics