Answer:
False
Explanation:
Demand is inelastic
Demand is inelastic if a change in price has little or no effect on quantity demanded. The coefficient of elasticity is less than one because the percentage change in price is greater than the percentage change in quantity demanded
If demand is inelastic and prices fall, the quantity demanded would rise. But the rise in quantity demanded is less than the price reduction. Therefore, total revenue would fall.
I hope my answer helps you
Answer:
the process of transforming privately owned assets into public assets by bringing them under the public ownership of a national government or state.
Explanation:
Answer:
The infant industry argument says that Question 7 options:
tariffs should be imposed to allow a new industry in a country to get established.
Explanation:
The argument for the infant industry protectionism suggests that the imposition of tariffs on imports gives a new industry in the country the required breathing space it requires to develop, grow, and be established before it can face competitive forces from outside, which imports imply. Since newly formed industries often do not command the economies of scale and learning experience that their competitors from other countries may have, therefore, they need to be singularly shaded from external competition until they have achieved similar economies of scale and learning curve. But, can they attain any competitive edge without learning from competitors?
The most cost effective way for John to buy a house in the suburbs is:
a.Move to the suburbs and rent a house for one year before purchasing a home.
This is to test the waters. During this time, he has to acclimatize himself into living in a new environment. He has to discover the pros and cons of living in the suburbs compared to living in the city like travel time in going to work, etc.
If after a year, he finds its more beneficial to live in the suburbs, then he can buy a house there. On the other hand, if he finds it costly to live in the suburbs compared to living in the city, he simply has to pay the necessary rent and utility bills, pack up his bags, and go home.
