If 10 years ago, the price of a movie ticket was $5 and the average hourly wage was $10, and today the price of a movie ticket is $8 and the average hourly wage is $20, then
A. movies are now relatively cheaper in terms of work hours.
B. movies are now relatively more expensive in terms of work hours.
C. the relative price of movies has remained constant.
D. workers now need to work longer hours to earn one movie ticket.
Answer: A
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a. True b. False Indicate whether the statement is true or false
Fran buys 1,000 shares of stock issued by Miller Brewing. In turn, Miller uses the funds to buy new machinery for one of its breweries
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Identify the basis on which you measure the liquidity of an asset.
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Restaurants and retail stores often give 10% senior citizen discounts. Use the concept of elasticity to explain how this can be profit-maximizing behavior.
What will be an ideal response?