The figure shows the demand curve for popsicles. The price elasticity of demand when the price of a popsicle increases from $0.30 to $0.50 is ________

When all perfectly competitive firms in a market or all monopolistically competitive firms in a market make zero economic profit,

a. no firms will enter the market b. all firms will exit the market c. a monopolist will take over the market d. the market demand shifts to the left e. the price of the good produced will increase in the long run

Higher prices may serve the public interest when

A. there is a shortage of goods or services available. B. there is an equal distribution of traffic on alternate routes. C. higher prices never serve the public interest. D. lower prices signal scarcity.