If the demand curve facing a monopoly was 1 unit at 7, 2 units at ...

[jenna1]

If the demand curve facing a monopoly was 1 unit at 7, 2 units at 6, 3 units at 5, 4 units at 4, and 5 units at 3, at the point along the curve where 3 units are being sold, the elasticity of demand:
 a. is greater than one.
 b. is equal to one.
 c. is less than one.
 d. cannot be determined from the above information.

Question 2

The United States has no comparative advantage in shipping, so a domestic shipping industry has no reason to exist.
 a. True
  b. False
  Indicate whether the statement is true or false

[harveenkau8139]

Answer to Question 1

a

Answer to Question 2

False

[jenna1]

Thank you

[harveenkau8139]

No problemo