What is the percentage of the lower two quintiles earned on line Y?
25
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Suppose the cost of producing copper tubing is $1 per foot. If production costs were measured on the vertical axis and quantity of copper tubing were measured on the horizontal axis, which of the following lines would have the smallest slope?
a. a line representing the quantity of tubing measured in inches b. a line representing the quantity of tubing measured in feet c. a line representing the quantity of tubing measured in yards d. the 45-degree line e. any vertical line
A change in the price of a commodity affects both the demand and the quantity demanded
Indicate whether the statement is true or false
Figure 14.1 represents the market for used bikes. Suppose buyers are willing to pay $200 for a plum (high-quality) used bike and $50 for a lemon (low-quality) used bike. If buyers have pessimistic expectations about the used bikes in the market, what number of used bikes sold will actually be lemons (low quality)?
A. 8 B. 12 C. 16 D. 22
In 2017 how much could a wheat farmer borrow for every bushel of wheat relinquished to the Commodity Credit Corporation (CCC)?
A. $1.95. B. $3.00. C. $2.94. D. $5.00.