If the interest rate is 10 percent and a business pays $100,000 for a lease on a factory, the explicit costs are

According to your textbook, globalization

A) does not necessarily destroy local identity. B) makes economic systems work perfectly. C) eventually turns all economic losses into profits. D) makes "outsourcing" impossible to achieve.

Price elasticity of demand is a units-free measure

Indicate whether the statement is true or false