If the price of medical services goes up 10% and quantity demanded falls by 3%, demand is ________.

Explain three ways in which imposing a quota on imports may reduce a country's overall economic well-being

What will be an ideal response?

Monopoly firms have a downward sloping curve in the short-run because

a. They have no close substitutes b. There are no barriers to entry c. They have no cost advantage over their rivals d. None of the above