Which of the following goods will have the most inelastic demand at any time?

a. jewelry
b. Big Macs
c. electricity
d. pork chops

c

Economics

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The list of the major factors that create economies of scale includes all of the following except:

A) specialization and division of labor. B) quantity discounts. C) an increase in demand for the firm's output. D) the use of automation devices.

Economics

According to the J curve, the rapid depreciation in the dollar from 1985 to 1987 caused net exports to

A) rise in the short run and fall in the long run. B) rise in the short run and rise further in the long run. C) fall in the short run and rise in the long run. D) fall in the short run and fall further in the long run.

Economics