At a price of $4, quantity supplied is 100, and at a price of $6, quantity supplied is 120. Using the midpoint formula, the price elasticity of supply is ________ and supply is ________.

The quantity theory of money is based on the formula that

A) V = P*Y*Ms. B) Y = P*V/Ms. C) Ms= P*V/Y. D) P = Ms*V/Y.

The law of increasing relative costs, depicted by the concavity of the production possibilities frontier, is most closely related to the

A. downward slope of the demand curve. B. upward slope of the demand curve. C. downward slope of the supply curve. D. upward slope of the supply curve.