When demand is written as log(Q) = -0.23 - 0.34 log(P) + 1.33 log(I), the price elasticity of demand equals:

What is the chain-weighted price index for GDP in the base year?

A) 0 B) 1 C) 100 D) The answer depends on the price index for the current year.

A perfectly competitive firm has a total revenue curve that is

A) upward sloping with an increasing slope. B) downward sloping with a constant slope. C) upward sloping with a decreasing slope. D) upward sloping with a constant slope.