Inelastic demand implies
A) that a one percent increase in price results in a smaller than one percent decrease in quantity demanded.
B) that a one percent increase in price results in a larger than one percent decrease in quantity demanded.
C) that a one percent cut in price results in a larger than one percent increase in quantity demanded.
D) that a one percent decrease or increase in price induces no change in total revenue.
A
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When labor productivity increases, the demand for labor curve ________ and the supply of labor curve ________
A) shifts rightward; shifts rightward B) shifts rightward; does not shift C) shifts leftward; shifts rightward D) shift s leftward; does not shift
What is search activity and how does it influence consumer surplus when a rent ceiling creates a housing shortage?
What will be an ideal response?