When the price of pistachio nuts is $7.50 per lb. the quantity demanded is 48 lbs. When the price of pistachio nuts is $9.00 per lb. the quantity demanded is 40 lbs
When the midpoint formula is used to measure the price elasticity of demand we can say that the demand for pistachio nuts is
A) completely inelastic. B) relatively, but not perfectly, elastic.
C) unit elastic. D) relatively, but not perfectly, inelastic.
C
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Members of the Euorpean Union
A. have less autonomy in conducting their monetary and fiscal policies than they did before the euro was introduced. B. have more autonomy in conducting their monetary and fiscal policies than they did before the euro was introduced. C. have less autonomy in conducting their monetary policy than they did before the euro was introduced, but more autonomy in conducting their fiscal policy. D. have more autonomy in conducting their monetary policy than they did before the euro was introduced, but less autonomy in conducting their fiscal policy.
If a graph has a line that shows the quantity of flat-screen televisions sold in the last five years, it is known as
A) a pie chart. B) a demand curve for outsourcing. C) a time-series graph. D) a supply curve of outsourcing.