If the demand for a good were completely inelastic,
A) the good is a basic necessity.
B) the good is a luxury.
C) there are no substitutes for the good.
D) there had been a long period of time for people to adjust their behavior.
E) people who own the good currently do not want to give it up except at much higher prices.
Question 2
If the production of a good causes an external cost, then the efficient quantity is
A) equal to the quantity at which the marginal benefit equals marginal cost.
B) less than the quantity at which the marginal benefit equals the marginal cost.
C) more than the quantity at which the marginal benefit equals the marginal cost.
D) the quantity at which the marginal private benefit is greater than the marginal social benefit.
E) None of the above answers is correct.
Basic Food Group Choices for a 1,200 Calorie Eating Plan
Basic bone anatomy.
All computer systems perform four basic functions: input, processing, storage, and output.
Basic Food Groups and Their Major Nutrients
The population of Asia increases rapidly, the demand for food and water is also growing
Peanut butter is good source of protein