If the wage rate were $250, how many workers would be hired?
A. 3
B. 4
C. 5
D. 0
D. 0
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The greater the price elasticity of demand, the
a. more likely the product is a necessity. b. smaller the responsiveness of quantity demanded to a change in price. c. greater the percentage change in price over the percentage change in quantity demanded. d. greater the responsiveness of quantity demanded to a change in price.
Refer to Table 20-7. Suppose that the data in the table above reflect price levels in the economy. What is the inflation rate between 2015 and 2016?
A) 2.9% B) 3.5% C) 4.6% D) 5% E) 7.5%
A shortage of competition is central to the entrepreneur in the ________ theory of profit.
A. risk taker B. innovator C. monopolist D. exploiter of labor
Many economists prefer
What will be an ideal response?