With the increased usage of cell phone services, what has happened to the price elasticity of demand for land-line telephone services?
A) The absolute value of the price elasticity coefficient has probably gone down.
B) It has become more price inelastic.
C) It has become more income elastic.
D) It has become more price elastic.
D
Economics
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The assertion that "there is no free lunch" means that
A. there are always trade-offs between economic goals. B. marginal analysis is used in economic reasoning. C. rational choices do not involve excessive costs. D. all production has an opportunity cost.
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