The table above gives the demand schedule for peas. Between point C and point D, the price elasticity of demand is
A) elastic.
B) unit elastic.
C) 0.75.
D) 3.00.
B
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Suppose the production of helicopters is an industry characterized by increasing returns to scale and an Argentine firm, Cicare, is the only player in this market. The firm caters to the global market and earns a profit of $10 million. Flettner, a German firm has been considering entering this market for a while, but it is aware that its entry will cause each firm to lose about $4 million
However, a government subsidy allows Flettner to enter the helicopter market and Cicare incurs a loss of $4 million due to its entry. Eventually, Flettner evolves as the monopoly supplier of helicopters while Cicare is forced to shut down. This conclusion rests on which of the following assumptions? a. The German government was experiencing a budget surplus. b. There was low demand for Cicare automobiles in the world market. c. The German government was able to forecast accurately the subsidy required to induce Flettner to produce helicopters. d. The quality of Flettner's helicopters were inferior compared to that of Cicare's. e. Cicare diversified into the production of automobiles.
One In the News article is titled "Challenging Work and Corporate Responsibility Will Lure MBA Grads." In the headline, which of the following determinants of labor supply is most explicitly mentioned?
A. Prices of consumer goods. B. Tastes. C. Expectations regarding prices of consumer goods. D. Taxes.
To bring her family of four up to the poverty line, a woman would need to earn almost $_______ per hour, 40 hours per week, 52 weeks a year.
Fill in the blank(s) with the appropriate word(s).
Which of the following shows the combinations of goods or services that a person can purchase?
A. Budget line B. Indifference curve C. Production possibility line D. Demand line