For the average homeowner, which of the following tasks is most likely to be contracted for?
a. fixing a shelf
b. hanging a painting
c. moving furniture
d. rewiring the kitchen lighting
e. repainting a bedroom
D
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Log-linear demand function is also called a constant-elasticity demand function
Indicate whether the statement is true or false
A monopolistically competitive firm operates on the ____ of their average total cost curve, where marginal cost is ____ average total cost
a. declining portion; above b. rising portion; above c. rising portion; below d. declining portion; below
Which of the following is a possible budget reform?
a. a quarterly budget b. adding more line items to the budget c. a biennial budget d. none of the above would reform the budget process
Suppose that Honduras opens its markets to international trade. As a result of this, the domestic price of coffee decreases. We can conclude that
a. Honduras has a comparative advantage in the production of coffee.
b. Honduras has begun to import coffee into the country.
c. the price of coffee in Honduras prior to the opening of trade was lower than the world price.
d. Honduras should specialize in the production of coffee.