Answer:
According to the OECD the total expenditure of the US government, including state and local is about a 38% of the GDP.
Explanation:
The federal government expends almost the 55% of the total and the remaining 45% the state and local government.
Answer:
elastic, because many other firms produce the same standardized product
Explanation:
A good has perfect price elasticity when a change in price leads to an infinite change of quantity demanded.
A perfect competition is when there are many buyers of homogenous goods and services. The sellers are price takers; prices are set by the market force.
A perfect competition has perfect price elasticity because goods sold are standardised and identical with other goods in the market. If the seller increases its price, it's demand would fall to zero as consumers would shift demand to other subsituite goods.
I hope my answer helps you.
Answer:
The correct answer is D) "None of the above is correct."
Explanation:
Drug companies are allowed to be monopolists in the drugs they discover to encourage research and development
Buying an established business means already has books set up & has loyal customers
