Rank the following goods from most elastic to least elastic: fruit, apples, Granny Smith apples
A) Fruit, apples, Granny Smith apples
B) Apples, Granny Smith apples, fruit
C) Granny Smith apples, apples, fruit
D) The goods cannot be ranked by elasticity because it ultimately involves the problem of comparing apples to oranges.
C
Economics
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The above figure shows a restaurant engaged in monopolistic competition with other restaurants. The equilibrium quantity at this restaurant is ________ meals per day
A) less than 150 B) between 151 and 250 C) between 251 and 350 D) between 451 and 450 E) more than 451
Economics
The more inelastic are demand and supply, the greater is the deadweight loss of a tax
a. True b. False Indicate whether the statement is true or false
Economics