Because of _______________, rental prices for physically similar space can vary widely across locations, & across property types.

Suppose that the elasticity of demand for insulin is 0.1, the elasticity of demand for oranges is 1.2, and the elasticity of supply for insulin and oranges is 0.4

If the government imposes a 10 percent tax on both insulin and oranges, the decrease in the quantity of oranges is ________ the decrease in the quantity of insulin. A) larger than B) smaller than C) equals to D) not comparable to E) More information is needed to determine how the decrease in the quantity of oranges compares to the decrease in the quantity of insulin.

A monopoly has

a. A perfectly elastic demand curve b. A perfectly elastic supply curve c. A downward sloping demand curve d. A upward sloping demand curve