Quantity DemandedPriceQuantity Supplied52$5073624562724051823542923033In the above market, economists would call a government-set maximum price of $40 a:
A. price floor.
B. fair price.
C. equilibrium price.
D. price ceiling.
Answer: D
Economics
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Demand is inelastic if
A) a large change in quantity demanded results in a small change in price. B) the quantity demanded is very responsive to changes in price. C) the price elasticity of demand is less than 1. D) the price elasticity of demand is greater than 1.
Economics
What additional sources of risk come from international investments?
What will be an ideal response?
Economics