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Author Question: Which goods have more elastic demands? A) goods with many substitutes B) goods which are ... (Read 98 times)

iveyjurea

  • Hero Member
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on: Jun 29, 2018
Which goods have more elastic demands?
 
  A) goods with many substitutes
  B) goods which are necessities
  C) goods with few substitutes
  D) goods whose purchase represents a small percentage of income

Question 2

In perfect competition, the marginal revenue of an individual firm
 
  A) is zero.
  B) is positive but less than the price of the product.
  C) equals the price of the product.
  D) exceeds the price of the product.


peilian

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  • Posts: 316
Reply #1 on: Jun 29, 2018
Answer to Question 1

A

Answer to Question 2

C


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