Which of the following questions would require normative analysis?
a. What will be the effect of a 3 percent increase in the price of cucumbers?
b. How many cucumbers should be supplied if the price increases by 3 percent?
c. Will the sale of cucumbers decrease significantly?
d. How will the sale of organic and non-organic cucumbers compare next month?
b. How many cucumbers should be supplied if the price increases by 3 percent?
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Refer to Figure 17-3. Panel D is appropriate when used to represent
A) the quantity of labor demanded by an input price taker. B) the quantity of labor supplied by someone working a fixed number of hours. C) the labor supply curve facing an input price taker. D) the highly-skilled labor market supply curve.
What is cost-plus pricing? Why do some firms use cost-plus pricing even when the firms' managers have the resources to devise a pricing strategy that would result in greater profits?
What will be an ideal response?
The use of collateral
A) allows banks to charge higher interest rates on loans. B) makes it more costly for borrowers to take advantage of their asymmetric information. C) makes it more costly for lenders to take advantage of their asymmetric information. D) has important tax implications for both borrowers and lenders.
In the balance of payments, any transaction that leads to a receipt by a resident of a country is a
A) minus item. B) debit item. C) surplus item. D) deficit item.