Would Tom install the safety equipment?
a. Yes because it costs him less than it is worth
b. Yes because it costs him more than it is worth
c. No because it costs him more than it is worth
d. No because it costs him less than it is worth
a
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Suppose the price of copper and the quantity of copper both rose at the same time. Whatmight be the likely explanation of this using supply and demand analysis?
What will be an ideal response?
Ivan’s country was recently involved in a major civil war, and many of the nation’s natural resources were damaged or destroyed. How will this impact its production possibilities curve?
a. It will shift inward. b. It will be unaltered. c. It will shift outward. d. It will rise, then fall.
If a 10 percent increase in the price of product A brings about a 3 percent increase in the sales of product B, then:
A. products A and B are complementary. B. the cross elasticity of demand between these two products is positive. C. products A and B are substitutes. D. the demand for these products is inelastic.
The screening process a bank follows for a loan applicant:
A. is based on just public information. B. uses information that anyone can obtain, the bank can usually obtain it cheaper. C. includes information that can be available to other firms, as well as proprietary information that only the bank would have. D. uses only confidential information.