Products X, Y, and Z have price elasticities of 3.0, 0.80, and 1.0 respectively. Total revenue decreases if the price of
A) product X falls.
B) product Y falls.
C) product Z falls.
D) product X or product Z falls.
E) product Y or product Z falls.
B
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Which of the following would be considered a marginally attached worker?
i. Lou, who worked 15 hours unpaid at her mother's store last month ii. Sylvia, who is not working and hasn't looked for work in 3 months iii. Meredith, who is no longer working after taking early retirement from her employer. A) ii only B) i, ii and iii C) i and ii D) i and iii E) i only
Refer to the scenario above. If Alice wins the auction, the seller earns an average revenue of ________
A) $30,000 B) $25,000 C) $24,000 D) $36,000
Which of the following issues were not discussed in the recent Doha trade talks?
A) Eliminating export subsidies from agricultural products. B) Eliminating high tariffs and tariff escalation. C) Solving the conflicts of providing cheaper medicines to developing countries while promoting research and development. D) Establishing the basic framework for an all-encompassing world free trade agreement.
Exhibit 2-2 Production possibilities curve
In Exhibit 2-2, the opportunity cost of coffee when moving from A to B is:
A. 2 million bushels of corn. B. 6 million bushels of corn. C. 8 million bushels of corn. D. 14 million bushels of corn.