One reason why the price elasticity of supply for DVD players is greater than one is that
A) the cost of producing DVD players is small.
B) the storage of DVD players is not possible.
C) DVD players can be easily stored.
D) the demand for DVD players is fairly large.
E) DVD players require relatively advanced technology for their production.
C
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The figure above shows the housing market in the city of Appleville. A rent ceiling of $650 per month is imposed. With the rent ceiling, the quantity of housing rented in Appleville is
A) 200 units below the efficient level. B) 100 units above the efficient level. C) 300 units below the efficient level. D) efficient.
Adverse selection is a situation in which one party to a transaction takes advantage of knowing more than the other party to the transaction
Indicate whether the statement is true or false