If the change in the y-axis variable is 6 and the change in the x-axis variable is 5, the slope of this line is 6/5
Indicate whether the statement is true or false
TRUE
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The ability of a monopoly to charge a price that exceeds marginal cost depends on
A) the price elasticity of supply. B) price elasticity of demand. C) slope of the demand curve. D) shape of the marginal cost curve.
Hold-up can only occur if
a. Costs are fixed b. Costs are sunk c. Costs are avoidable d. Costs are incurred
The ability of a country to invest in capital goods is tied to _____
a. its ability to save b. the size of its labor force c. its abundance of natural resources d. the quality of its labor force e. the level of inflation
Which of the following best explains why you are more likely to see a poor person than a wealthy person picking up aluminum cans to sell?
A. The opportunity cost of picking up cans is higher for wealthy people than for poor people. B. Wealthy people are more aware of diseases transmitted through litter than are poor people. C. Wealthy people are more concerned about their public image than are poor people. D. Wealthy people do not care about the environment.