The presence of substitute goods will tend to make demand more
A) inelastic.
B) unit elastic.
C) elastic.
D) vertical.
C
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What is meant by randomization? How does randomization affect the results of an experiment?
What will be an ideal response?
In an ideal labor market, wages would adjust to balance the quantity of labor supplied and the quantity of labor demanded, ensuring that all workers are always fully employed
a. True b. False Indicate whether the statement is true or false
If the United States economy were operating on its production possibilities frontier, it would have the best chance of quickly and temporarily reaching point F if
A. we were at war.
B. we were in a depression.
C. we were in a period of inflation.
D. we invested more in plant and equipment.
The Farm Factory, a booth at the local Farmer's Market, sells fresh eggs for $1.50 per dozen and fresh milk for $2.50 per gallon. What is the opportunity cost of buying a gallon of milk?
A) 1 2/3 dozen eggs B) 3/5 of a dozen eggs C) $2.50 D) $1.50