Refer to the following graph.
Elasticity is smallest at which point?
A. A
B. B
C. C
D. D
Answer: D
Economics
You might also like to view...
Which of the following is an equilibrium condition of the short-run macro model?
a. Taxes equal transfers. b. Imports equal exports. c. Aggregate expenditure equals output. d. Consumption spending equals autonomous consumption spending. e. Consumption spending equals investment spending plus government spending.
Economics
Taxes create deadweight loss when they
a. distort behavior. b. cause the price of the product to increase. c. don't raise sufficient government revenue. d. cannot be computed easily.
Economics