Often economists measure the loss in consumer surplus by looking at the changing area below the Marshallian demand curve. This approach will provide a more accurate measure of the compensating variation of such a price increase if:
a. the good occupies a small portion of a person's budget.
b. the good occupies a large portion of a person's budget.
c. the good has many close substitutes.
d. the good has few substitutes.
Question 2
In the electric power industry, residential customers have relatively ____ demand for electricity compared with large industrial users. But contrary to price discrimination, large industrial users generally are charged ____ rates.
a. similar, similar
b. elastic, lower
c. elastic, higher
d. inelastic, lower
e. inelastic, higher
The “Old Man” from La Chapelle shows evidence of extensive tooth loss and bone resorption.
Burial caves from Mangaia, Cook Islands, document the changing patterns of mortuary ritual.
The Parahippocampal Place Area
Changing a Sterile Dressing
Performing a Spirometry Test to Measure Forced Vital Capacity
The diameter of a semicircle is 4 miles. What is the semicircle's area?