In the late 1980s, the health benefits of oat bran were widely advertised. If the price of oats increased 50%, causing the quantity of oats supplied to increase by 40%, then the price elasticity of supply was
A) 1.25.
B) -1.25.
C) -0.80.
D) 0.80.
D
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The expansion path of product indifference curves shows the cost-minimizing combination of inputs.
Answer the following statement true (T) or false (F)
In order to prosper, entrepreneurs in a market economy must
What will be an ideal response?
Which of the following students would be most likely to drop out of college before completing their degree?
A) a junior secondary education major who has just read about the substantial improvement in the job opportunities available for teachers with a college degree B) a senior physics major with a solid B average C) an outstanding baseball player in his junior year that just received a $500,000 offer from a professional team D) a junior economics major who wants to attend law school
Which of the following would be described as the recognition lag?
A. The time required to get a particular plan implemented with the money getting into peoples' hands. B. The time required by a President to sign legislation. C. The time required to know that there is a recession. D. The time required to agree upon a policy remedy for a recession.