The price elasticity of demand measures the ________ that results from a ________
A) change in quantity demanded; change in price
B) change in price; change in the quantity demanded
C) percentage change in price; percentage change in the quantity demanded
D) percentage change in the quantity demanded; percentage change in price
E) percentage change in the quantity demanded; change in price
D
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A firm produces its product using both capital and labor. When it does not change its capital usage, but doubles its labor input, its output increases by less than 50 percent. Which of the following is the most likely explanation of this finding?
A) the principle of opportunity cost B) the spillover principle C) the principle of diminishing returns D) the marginal principle
Forty or so dealers establish a "market" in these securities by standing ready to buy and sell them
A) secondary stocks B) surplus stocks C) U.S. government bonds D) common stocks