Use the data in the table below to answer the following question.PriceQuantity Demanded$201218171620142412301036840644448Over which price range is the demand unit-elastic?
A. $16-$14
B. $14-$12
C. $12-$10
D. $18-$16
Answer: C
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If the cost of hiring workers increases but the marginal benefit remains unchanged, employers are likely to respond by hiring ________ at any given wage
A) more workers B) immigrant workers C) fewer workers D) teenaged workers
A person's productive contribution in a capitalist society is measured by determining the
A) market value of the individual's output. B) comparable output of other workers in similar jobs. C) total number of goods produced by the individual. D) index of occupational values.
Refer to Figure e. Brandon and Allie want to go on a date one summer evening. Allie is a Red Sox fan, while Brandon is a Mets fan. Both teams are playing that evening, but not against each other. Each would rather watch their favorite team, but neither can force the other to watch a particular game, and each is willing to suffer through the other's game if it means time together. If Allie watches the Mets, what is Brandon's best response?
A. Brandon should watch the Red Sox.
B. Brandon should watch the Mets.
C. It does not matter which Brandon watches; he is indifferent between the Red Sox and the Mets.
D. Brandon should not consider Allie's choice when making her decision.
Inefficient resource allocation is a major problem with monopolies.
Answer the following statement true (T) or false (F)