Suppose that when the price of donuts rises 10%, the quantity demanded of donuts falls 3%. Based on this information, what is the approximate absolute price elasticity of demand for donuts?

The causes of prosperity that link high levels of prosperity to high levels of inputs of production, without explaining why the levels of those inputs are high, are referred to as:

A) fundamental causes of prosperity. B) implicit causes of prosperity. C) proximate causes of prosperity. D) explicit causes of prosperity.

The current supply of Rembrandt paintings:

a. is perfectly elastic b. is elastic. c. is unit elastic. d. is perfectly inelastic.