If a good's price elasticity of supply is inelastic and its quantity supplied increases by 5%, its...
price must have increased by more than 5%
supply must have increased by 4%
price must have increased by 4%
quantity supplied must have increased by 5 units
price must have decreased by more than 5%
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If a team of three workers, each making the u.s. federal minimum wage, produced these 12 rugs, what would the total labor cost be? don't forget that these workers would be working overtime.
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According to the video, the gross national product had declined from $104 billion in 1929 to about in 1933.
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Suppose for a consumer the marginal utility (mu) of bread is 20 utils and the mu of milk is 10 utils; the price of bread is $3 and the price of milk is $1. given this, a. more utility per dollar is gained from consuming bread than milk. b. more utility per dollar is gained from consuming milk than bread. c. the same amount of utility per dollar is gained from consuming milk as bread. d. the consumer is in consumer equilibrium.
Answers: 1
If a good's price elasticity of supply is inelastic and its quantity supplied increases by 5%, its.....
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