Refer to Figure 21-13. What is the consumer’s marginal rate of substitution as she moves from A to B?
Answer: D. 2
Economics
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Homer's Donut Shoppe has the production function q = 10L +20L2 - 5L3. The average product of labor is
A) AP = 10 + 20L - 5L2 B) AP = 10 + 40L - 15L2 C) AP = 10L D) AP = 10 + 20L
Economics
Hilda's Hair Hysteria earned $3,750 in total revenue last month when it sold 125 haircuts. This month it earned $3,600 in total revenue when it sold 90 haircuts. The price elasticity of demand for Hilda's Hair Hysteria is
a. 0.33. b. 0.88. c. 1.14. d. 7.98.
Economics
For economic imperialists, economics is more of a method of analysis than a specific field of study
Indicate whether the statement is true or false
Economics
For a hotdog vendor, the hotdog buns represents his
A) fixed input. B) variable input. C) sunk cost. D) none of the above.
Economics