Price elasticity of supply is always
A) positive because of the law of supply.
B) negative because of the law of supply.
C) positive because of diminishing marginal utility.
D) negative because percentages can only be negative.
A
Economics
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The table shows the demand and supply schedules for student workers at on-campus venues. If the college introduces a strictly enforced minimum wage of $11.50 an hour,
who gains and who loses from the minimum wage, and is the campus labor market efficient or fair?
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Compared to a monopolistic competitor, a monopolist faces
A) a more elastic demand curve. B) a more inelastic demand curve. C) a demand curve that has a price elasticity coefficient of zero. D) a more elastic demand curve at higher prices and a more inelastic demand curve at lower prices.
Economics