If the price elasticity of demand for good A is -1, then a 1% increase in
A) consumer income will result in a 1% decrease in the demand for good A.
B) consumer income will result in a 1% increase in the demand for good A.
C) the market price of good A will result in a 1% increase in the quantity demanded of good A.
D) the market price of good A will result in a 1% decrease in the quantity demanded of good A.
D
Economics
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A) obsolete ideas in B) advances in C) shocks to D) duplications in
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Comparative advantage is most closely related to which of the following concepts?
A) efficiency B) opportunity cost C) fairness D) productivity E) competition
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