A scatter diagram with the price of vacations to Mexico on the vertical axis and the price of vacations to California on the horizontal axis shows a positive relationship
If the price of vacations to Mexico were placed on the horizontal axis, and the price of vacations to California on the vertical axis, the relationship would be A) negative relationship, also called a direct relationship.
B) negative relationship, also called an inverse relationship.
C) positive relationship, also called a direct relationship.
D) positive relationship, also called an inverse relationship.
C
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A subsidy in an industry would result in: a. an increase in consumer surplus. b. an increase in producer surplus c. both (a) and (b)
d. none of the above.
Globalization decreases the interconnectedness between countries
a. True b. False Indicate whether the statement is true or false
Tanesha sells homemade candles over the Internet. Her annual revenue is $64,000 per year, the explicit costs of her business are $17,000, and the opportunity costs of her business are $22,000. What is her accounting profit?
A) $17,000 B) $22,000 C) $47,000 D) $64,000
An effective way in which patents allow manufacturers to prevent the entry of new firms into the industry is through
a. creating perfectly inelastic demand. b. threats of infringement suits. c. creating tying contracts. d. threats of triple damages.