If the price elasticity of demand is equal to 0 then demand
1. If the price elasticity of demand is equal to 0, then demand is unit elastic.
a. True
b. False
2. To be binding, a price ceiling must be set above the equilibrium price.
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an alternative to rent-control laws that would not reduce the quantity of housing supplied isa the payment by
a key determinant of the price elasticity of supply is thea number of close substitutes for the good in questionb
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1 if the price elasticity of demand is equal to 0 then demand is unit elastica trueb false2 to be binding a price
which of the following would most likely serve as an example of a monopolya a bakery in a large cityb a bank in a large
when quantity moves proportionately to the same amount as price demand isa elastic and the price elasticity of demand
if a nonbinding price floor is imposed on a market thena the quantity sold in the market will decreaseb the quantity
an outcome that can result from either a price ceiling or a price floor isa an enhancement of efficiencyb undesirable
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