The table above shows how many blouses Katie and Kim will purchase at different prices for a blouse. In the figure, label the axes and put the price on the y-axis and the quantity of blouses on the x-axis. Plot the data for Katie in the figure
Then, plot the data for Kim in the figure.
The figure above shows the labeled axes and has drawn in it the relationships between the price and the quantity of blouses purchased for Katie and Kim.
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Why has the cartel in diary farming not been broken up?
a. Organized crime is used to enforce a dairy compact. b. The dairy industry is exempt from anti-trust laws. c. Consumers do not mind paying higher prices for milk. d. Economic studies indicate that to do so would decrease efficiency.
Suppose you are risk averse and you are deciding between two investments. One has a guaranteed return of 5% while the second has a 50% chance of a 10% return and a 50% chance of a 0% return. Which investment would you choose? Why?
What will be an ideal response?
Which of the following is a measure of standard of living that is not included in GDP?
a. recreation and travel b. literacy level c. medical expenses d. college tuition
In surveys about inflation during the 1990s, what percentage of the U.S. population as a whole answered “Fully agree” that preventing high inflation was a highly important national priority?
a. 18% b. 33% c. 52% d. 75%