Refer to the demand and supply equations. At a price of $5, there will be ________
Fill in the blank(s) with correct word
Qd = 80 - 2 (5 ) = 70 units
Qs = -10 + 4 (5 ) = 10 units
Thus, at a price of $5 which is below the equilibrium price, we have an excess demand or shortage of 60 units
Given the production function Y = 10X + 20X2 - X3, answer the questions below.
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A) negative business profit. B) zero business profit. C) positive business profit. D) business profit equal to half the total revenue.
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Compared to owners, employees receive a large fraction of their incomes from their employers and are consequently dependent on the fortunes of that company in the marketplace. From a ‘risk-sharing' perspective, an employee tends to prefer:
A. a flat salary. B. year-end based performance pay. C. output-based incentive pay. D. commission-based incentive pay.