Which statement is false?
A. The most important determinant of the degree of elasticity is the availability of substitutes.
B. An elasticity of less than 1 is inelastic.
C. The advertiser wants to push her product's curve to the left and make is less elastic.
D. None of these statements are false.
C. The advertiser wants to push her product's curve to the left and make is less elastic.
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The above (incomplete) table provides information about the relationships between labor and various product measures. The average product of the fourth unit of labor
A) exceeds the marginal product of the fourth unit of labor. B) is less than the marginal product of the fourth unit of labor. C) is equal to the marginal product of the fourth unit of labor. D) is equal to 4.0.
Refer to Scenario 1-1. Using marginal analysis terminology, what is another economic term for the incremental revenue received from the sale of the last 3,000 cell phones?
A) marginal revenue B) gross profit C) sales revenue D) gross earnings
Lower interest rates are generally charged on more risky investments and on securities that have longer maturities
Indicate whether the statement is true or false
Why would large department stores such as Home Depot rather face shortages than increase the prices of basic food and repair items in cases of natural disasters such as Hurricanes?
a. They do not want to increase sales b. They are maximizing sales c. They do not want to be viewed as unfair d. All of the above