When a product transformation curve for a firm is bowed inward, there are ________ in production
A) economies of scope
B) economies of scale
C) diseconomies of scope
D) diseconomies of scale
C
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Labor demand curves are homogeneous of degree zero.
Answer the following statement true (T) or false (F)
GDP includes:
a. the negative attributes in our quest for more goods and services such as soil erosion and deforested landscape. b. all quality improvements resulting from higher quality goods replacing inferior goods. c. the cleaning-up expenses associated with pollution. d. the value of leisure time.
Which of the following would cause Graph A to shift to the left?
a. fluctuating income
b. stagnant income
c. declining income
d. rising income
When the price of a soft drink from the campus vending machine was? $0.60 per? can, 100 cans were sold each day. After the price increased to? $0.75 per? can, sales dropped to 85 cans per day. Over this? range, the absolute price elasticity of demand for soft drinks was approximately equal to
A) 0.15.
B) 0.60.
C) 0.73.
D) 1.67.