When the demand for a good is perfectly elastic, ________
A) total revenue is as large as possible
B) the demand curve for the good is vertical
C) the price elasticity of demand is infinite
D) the price elasticity of demand is zero
C
Economics
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Which of the following is TRUE?
A) Lotteries work best when a resource can serve just one user at a time in a sequence. B) A market price always allocates resources better than a command system. C) In the United States, how tax dollars are allocated among competing uses is an example of how resources are allocated by majority rule. D) Force has never played an important role in allocating scarce resources.
Economics
In the late 1800s, the Goodyear welt process vastly increased productivity in the ______ industry
a. steel b. boot and shoe c. tire d. cotton textiles
Economics