If, for a given percentage decrease in price, quantity supplied decreases by a proportionately smaller percentage, then supply is

A) elastic. B) perfectly elastic. C) unit elastic. D) relatively inelastic.

D

Economics

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A $100 bill is a

A) commodity money. B) fiat money. C) representative commodity money. D) partially representative commodity money.

Economics

The above table gives the total cost schedule for oil changes at the local Jiffy Lube

a. What is Jiffy Lube's total fixed cost? b. What is the total variable cost of 2 oil changes? c. What is the average variable cost of 4 oil changes? d. What is the average fixed cost of 2 oil changes? e. What is the marginal cost of the 3rd oil change?

Economics