If the elasticity of supply of a good was 2, how much would the price have to increase to lead to an increase in output of 6 percent?
a. 3 percent
b. 4 percent.
c. 8 percent.
d. 12 percent.
a
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A company that undertakes an activity so that it can "do well by doing good" is practicing
A) strategic corporate social responsibility. B) altruistic corporate social responsibility. C) profit sharing. D) the survivor principle.
Which of the following groups exerts the most control over the money supply in the United States?
a. The executive branch of government b. The legislative branch of government c. The judicial branch of government d. The Federal Reserve e. The U.S. Treasury Department
An increase in the price of ice cream is likely to cause:
A. an outward shift of the demand curve for ice cream. B. a movement to the right along the demand curve for ice cream. C. a movement to the left along the demand curve for ice cream. D. an inward shift of the demand curve for ice cream.
The marginal revenue product of a resource depends on the following factors, except:
A. The price of the resource B. The price of the product C. The quantity of the resource employed D. The marginal product of the resource