The price elasticity of demand can be computed as
A) change in total utility/change in quantity.
B) change in price/change in quantity demanded.
C) percentage change in quantity demanded/percentage change in price.
D) change in quantity demanded/change in price.
Answer: C
Economics
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The figure above shows the marginal social cost curve of generating electricity and the marginal private cost curve. The difference between the marginal cost curve and the marginal social cost curve equals
A) marginal private cost. B) private cost. C) external cost. D) marginal external cost. E) Coasian cost.
Economics
"A firm should continue to hire more workers as long as wages are low." Do you agree or disagree? Why?
What will be an ideal response?
Economics