In the above figure, the lowest price for which the firm will sell its second ton of wheat is
A) $25.
B) $50.
C) $75.
D) $100.
C
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Answer the following statement(s) true (T) or false (F)
1. If a consumer demands the same (positive) amount of a good no matter what their income, then the income elasticity is also positive. 2. Normal goods have income elasticities greater than 1, while inferior goods have income elasticities less 3. Estimates of the price elasticity of demand depend, in part, on the units used to measure price and 4. The cross elasticity of demand will be positive when goods are substitutes and negative when goods are complements.
Which of the following explains how to use the Herfindahl-Hirschman Index?
a. Summing the squares of the market share of each firm in the industry b. Calculating each firm’s share of the total sales in the industry c. Multiplying the squares of the market share of each firm in the industry d. Dividing each firm’s share of total industry sales by the firm’s sales
The labor force participation rate is defined as
A) the percentage of the working-age population that is unemployed.
B) the percentage of the working-age population that is employed.
C) the percentage of the labor force that is employed.
D) the percentage of the labor force that is unemployed.
E) the percentage of the working-age population in the labor force.
the labor force participation rate is calculated by the percentage of the? working-age population that is in the labor force or
What will be an ideal response?