If your real disposable income goes up by $1,000 per week, and your real consumption spending goes up by $800 per week, you have a marginal propensity to consume of

Rent seeking is defined as

A) charging higher prices for an apartment. B) the act of obtaining special treatment by the government to create an economic profit. C) charging a price below marginal cost. D) selling a greater quantity than is profitable. E) charging different prices for different units of the good or service.

Ingrid's Ice cream Parlor has an own price elasticity of 5 . It has an approximate share of 10% in the market for ice cream. What is the aggregate own price elasticity of the market?

a. 0.1% b. 0.5% c. 0.7% d. 1%