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Author Question: 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 ... (Read 214 times)

jenna1

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on: Jun 30, 2018
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

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Reply #1 on: Jun 30, 2018
Answer to Question 1

a

Answer to Question 2

False


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jenna1

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Reply #2 on: Jun 30, 2018
Thank you


harveenkau8139

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Reply #3 on: Jun 30, 2018
No problemo


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