In the figure above, which of the following represents a real flow?
A) Expenditures on real estate services
B) Profit
C) Capital
D) Wages
E) Both B and D
C
Economics
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The numerical value of a price elasticity represents the percentage amount by which the quantity demanded changes when the price
a. increases by 1 unit b. changes by 1 percent c. is in equilibrium d. is fixed in the market e. falls by 1 dollar
Economics
When the demand curve for an input is a derived demand this means that
A. the law of diminishing marginal product does not hold. B. the demand curve slopes upward. C. the demand curve is derived from the demand for the final product being produced. D. the demand curve depends upon the MFC.
Economics