Author Question: In perfect competition, the elasticity of demand for the product of a single firm is A) 0. B) ... (Read 44 times)

kamilo84 · **on:** Jun 29, 2018

In perfect competition, the elasticity of demand for the product of a single firm is

A) 0.
B) between 0 and 1.
C) 1.
D) infinite.

Question 2

If the Fed sells U.S. dollars, the exchange rate

A) rises.
B) does not change.
C) falls.
D) changes, but the direction depends on whether the Fed affected the demand for dollars or the supply of dollars.