Recall the Application about the production of coffee in China to answer the following question(s).According to the Application, farmers in the city of Pu'er, China currently earn more growing ________ than they do growing ________.
A. tea; coffee
B. rice; coffee
C. coffee; tea
D. rice; tea
Answer: C
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Suppose Aiyanna's Pizzeria currently faces a linear demand curve and is charging a very high price per pizza and doing very little business. Aiyanna now decides to lower pizza prices by 5% per week for an indefinite period of time. We can expect that each successive week
A. demand will become less price elastic. B. the elasticity of supply will increase. C. price elasticity of demand will not change as price is lowered. D. demand will become more price elastic.
Human capital is acquired
A) only in school. B) only through on-the-job training. C) only through job experience. D) through schooling, job training, and experience. E) only at birth, that is, it's people's inborn talents.
Refer to the following graph.
Which of the following curves demonstrates a unit elastic demand curve? (That is, a curve where elasticity is 1 at each point.)
A. A B. B C. C D. None of the answers is correct.
Who belongs to unions? Answer in terms of the types of industries and occupations, and the personal characteristics of workers
What will be an ideal response?