The slope of a horizontal line is infinite, and the slope of a vertical line is zero
a. True
b. False
Indicate whether the statement is true or false
False
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If a monopsony must negotiate with a union, then the wage will probably be
A) more than the value of marginal product. B) more than the marginal cost of labor. C) the same as if there had been no union. D) more than what it would have been without a union but not more than the value of marginal product.
The most threatening and damaging detrimental externality at issue today is
A. the explosion and oil spill at the Deepwater Horizon. B. the continued pollution of city air due to factory emissions. C. water shortages. D. global warming.
The costs of investment depend on the ________ and the ________.
A. relative price of the firm's output; real interest rate B. price of new capital goods; real interest rate C. taxes levied on the revenue generated; relative price of the firm's output D. marginal product of capital; relative price of the firm's output
If quantity demanded falls by 25 percent when price rises by 50 percent, demand is said to be:
A. unit elastic. B. elastic. C. inelastic. D. proportional.