What does unitary elastic demand mean?
What will be an ideal response?
Answer: The percentage change in quantity demanded is exactly equal to the percentage change in price.
Economics
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In the table above, the deadweight loss is zero when ________ umbrellas are produced and sold
A) 20 B) 40 C) 60 D) 80
Economics
Which of the following is included in GDP calculations?
a. the college tuition paid to enroll in a course b. a check for $50 received on your birthday c. cash income received by a self-employed landscaper that is not reported to the IRS d. sales revenue received from a yard sale
Economics