Suppose that the absolute price elasticity for cookies equals 0.9. We could then say that the demand for cookies is
A) elastic.
B) inelastic.
C) unit-elastic.
D) perfectly elastic.
Answer: B) inelastic.
Economics
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A firm produces 200 units of a good when it employs 7 workers. The marginal product of the eighth worker is 46 units. If the eighth worker is hired, the firm's total product will increase to:
A) 208 units. B) 228 units. C) 246 units. D) 322 units.
Economics
Where are coins manufactured?
(A) Federal Reserve Banks (B) Bank holding companies (C) United States Mint (D) Bureau of Engraving
Economics