In Figure 1.9, the slope of the line between points L and M is
A. 1.20.
B. 0.75.
C. 0.80.
D. 0.67.
Answer: A
You might also like to view...
A perfectly competitive firm in a constant-cost industry produces 3,000 units of a good at a total cost of $36,000. The prevailing market price is $15
What will happen to the number of firms in the industry and to the industry's output in the long run? A) The number of firms remains constant and the industry's output decreases. B) The number of firms and the industry's output increase. C) The number of firms remains constant and the industry's output increases. D) The number of firms and the industry's output decrease.
Projections place world population by 2050 at
(a) between 4 and 6 billion. (b) between 6 and 8 billion. (c) between 8 and 10 billion. (d) between 10 and 12 billion.
Most waste generated in the U.S. ends up in landfills because
a. the low opportunity cost of time discourages recycling b. Americans earn low incomes c. the price of land is relatively low d. the low wages in the repair industry encourages repairs e. of low productivity and high wages in the waste disposal industry
If the price of chicken rises and the price of beef does not rise, consumers will respond by:
A. increasing purchases of beef and chicken. B. reducing purchases of beef and chicken. C. substituting chicken for beef. D. substituting beef for chicken.