As we move down a linear demand curve, the absolute value of the price elasticity of demand:
A) increases.
B) stays the same.
C) decreases.
D) cannot be determined without more information.
C
Economics
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If A and B are two disjoint sets, and "Pr" represents the probability, then Pr[A or B] will be:
a. unity. b. zero. c. Pr[A]+Pr[B]. d. Pr[A]-Pr[B].
Economics
The market wage could be higher than the equilibrium wage if a worker
a. belongs to a labor union. b. is covered by a minimum-wage law. c. is paid an efficiency wage. d. All of the above are correct.
Economics