- Would the price elasticity coefficient of a product that has successful advertising and local buyers be high or low?
- Identify price elasticity of a product whose demand is a small portion of one’s income
- Economics of scale
- If the price of labor or some other variable resource decreased what happens to the mc curve?
- The Price elasticity of demand coefficient measures what?
- If the price of a varible resource increased for the typical firm, what happens to the MC curve?
- If the demand for wheat is highly price inelastic, an extraordinary large crop ay do what to farmer’s incomes?
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