The magnitude of the slope of the budget line is equal to the ________ or ________ of the good plotted on the ________ in terms of the other good
A) relative price; marginal cost; y-axis
B) relative price; total cost; y-axis
C) relative price; opportunity cost; x-axis
D) price; opportunity cost; x-axis
C
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Risk that is common to all assets of a certain type is referred to as
A) systematic risk. B) unsystematic risk. C) idiosyncratic risk. D) structural risk.
If price is above average total costs, the firm
A) is earning positive profits. B) is earning negative profits. C) is making a normal rate of return on its capital investment. D) may be earning a positive or negative profit depending upon costs.
The labor supply curve will shift to the right under which of the following conditions?
a. other things being equal, workers are willing to supply more hours of labor each week b. new workers enter the labor market c. a new law relaxes immigration quotas d. all of the above
The slope of a curved line at a particular point is
a. always greater than the slope of a straight line at the same point. b. always smaller than the slope of a straight line at the same point. c. defined as the slope of the straight line representing the average values for the entire curve. d. defined as the slope of the straight line that is tangent to the curve at that point.