The price of a good rises from 8 dollars to 12 dollars, and the quantity demanded falls from 110 to 90 units. Calculated with the midpoint method, the elasticity is ( )
A. 1/5.
B. 1/2.
C. 2.
D. 5.
查看答案
A monopolist that practices perfect price discrimination creates no deadweight loss. ( )
When a market is in equilibrium, the buyers are those with the highest willingness to pay and the sellers are those with the lowest costs. ( )
When a market is in equilibrium, quantity demanded will equal quantity supplied. ( )
If Japan can produce each unit of steel using fewer resources than Canada does, Japan has an absolute advantage in steel production.