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1-Which of these situations is (Pareto) efficient? Please choose an answer: a-. Vm(5) = 4 and Cm(5) = 4. b. Vm(5) = 3 and Cm(5)
1-Which of these situations is (Pareto) efficient? Please choose an answer:
a-. Vm(5) = 4 and Cm(5) = 4.
b. Vm(5) = 3 and Cm(5) = 4.
c-. Vm(5) = 4 and Cm(5) = 3.
d. None of these answers.
2-Complete the following sentence: a 10% increase in the price of chocolate leads to an 8% drop in the quantities demanded of chocolate, then the demand for chocolate is...
choose an answer:
a-. inelastic. b. elastic. c-. perfectly elastic. d. perfectly inelastic.
Explain clearly
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