A decrease in RGDP will shift the demand curve ______.

Which of the following is found ONLY in oligopoly?

A) Producers sell identical products. B) One firm's actions affect another firm's profit. C) Entry into the industry is blocked. D) Sellers face a downward sloping demand curve for their product. E) The firm's demand curve is horizontal.

As one moves down a straight-line, down-sloping demand curve, price elasticity will:

a. change from elastic, to unit elastic, then to inelastic. b. remain the same between any two points. c. change from inelastic, to elastic, then to unit elastic. d. change from unit elastic, to elastic, then to inelastic. e. change from elastic, to inelastic, then to unit elastic.