Refer to the data provided in Table 10.3 below to answer the following question(s).
Table 10.3 
Refer to Table 10.3. Diminishing returns to labor start with the ________ worker.
A. second
B. third
C. fourth
D. fifth
Answer: C
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If the percentage change in quantity demanded for a good is larger than the percentage change in its price, then the price elasticity of demand of the good is said to be: a. elastic
b. inelastic. c. perfectly inelastic. d. unit elastic.
If the cross-price elasticity of demand for two goods is 1.25, then
a. the two goods are luxuries. b. the two goods are substitutes. c. one of the goods is normal and the other good is inferior. d. the demand for one of the goods conforms to the law of demand, but the demand for the other good violates the law of demand.
Which of the following can allow oligopoly firms to reap monopoly profits?
a. Use of advanced technology b. Formation of cartels c. Independent decision making d. High investment in advertising
In the above table, saving is positive when real disposable income is greater than
A. $100. B. $300. C. $500. D. zero.