A graph shows the quantity of corn on the vertical axis and the quantity of steel on the horizontal axis. What is the proper interpretation of a horizontal line at a particular quantity for corn that is parallel to the horizontal axis of the graph?
What is the slope of the horizontal line?
Please provide the best answer for the statement.
The horizontal line indicates that the two products are unrelated. There is no change in the quantity of steel for a given quantity of corn. The slope of a horizontal line is zero.
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Segmenting markets based on the percentage of a product or service that consumers buy or use is termed
Sociodemographic Psychographic Cohort Usage
Which would definitely not be an example of price discrimination?
A. Universities charge higher tuition for out-of-state residents. B. An electric power company charges less for electricity used during hours when production costs are lower. C. A doctor charges for services according to the income of patients. D. A theater charges children less than adults for a movie.
The above table shows the daily production possibilities for a bakery. Currently the bakery bakes 60 pizzas and 180 loaves of bread, that is at alternative C.Using the above table but now the bakery bakes 30 pizzas and 240 loaves of bread (alternative B), moving from alternative B to alternative D, what is the opportunity cost of one pizza pie?
A. 2.5 loaves of bread B. 0.5 loaf of bread C. 2 loaves of bread D. 150 loaves of bread
Smith and Jones comprise a two-person economy. Their hourly rates of production are shown below. CalculatorsPer HourComputersPer HourSmith10010Jones1206If Smith and Jones are dividing their time efficiently and producing more than 10 computers and fewer than 120 calculators per hour, then Smith will ________ and Jones will ________.
A. produce only computers; produce only calculators B. produce only calculators; produce only computers C. split his time between computers and calculators; produce only computers D. produce only computers; split his time between computers and calculators