In the simple circular flow diagram, the flow of money from the firms to the markets for factors of production is called

The table above gives the demand schedule for snow peas. The demand curve for snow peas is a straight line and so the elasticity of demand is

A) 1 at all prices. B) the same at all prices but not 1. C) higher at higher prices. D) lower at higher prices.

Cartels are organizations that:

A. coordinate the output and pricing decisions of a group of firms. B. keep markets contestable. C. encourage price wars. D. use predatory pricing to monopolize industries.