Which of the following accurately describes the supply and demand trend with HD televisions?
a. Supply decreased and demand increased.
b. Supply increased and demand decreased.
c. Supply and demand both increased.
d. Supply and demand both decreased.
c. Supply and demand both increased.
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The most people live in ________ economies and the fewest people live in ________ economies
A) emerging market; developing B) advanced; emerging market C) developing; emerging market D) advanced; developing E) developing; advanced
Average fixed cost is equal to
A) the amount of total cost that does not change as output changes in the short run. B) fixed cost divided by the quantity of output produced. C) average total cost plus average variable cost. D) fixed cost multiplied by the quantity of output produced.
Capital deepening refers to: a. an increase in the amount of capital per worker
b. an increase in the amount of workers per unit of capital. c. a decrease in the amount of capital per unit of output. d. an increase in the amount of output per unit of capital. e. an increase in the productivity of capital.
Answer the following statements true (T) or false (F)
1. The slope of a graph relating two variables is -5. This indicates that as one variable decreases, the other variable also decreases. 2. In the graph for the linear equation S = 15 - 5T, with T on the horizontal axis, the vertical intercept of the graph is -5. 3. In a curved graph that is dome-shaped, the tangent line at it maximum or highest point has an infinite slope. 4. A market system is characterized by the private ownership of resources and the use of prices to coordinate economic activity.