The labor-force participation rate tells us the fraction of the population that has chosen to participate in the labor market
a. True
b. False
Indicate whether the statement is true or false
True
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If Pepsi decided to raise its price, you would expect the price of Coca Cola
A) to fall. B) to raise. C) Their prices should have no relationship because Pepsi and Coca Cola are not related. D) None of the above answers are correct.
Coca Cola and Pepsi, which together account for about 85 percent of the soft drink market, are best described as being in
A) a monopoly market. B) an oligopolistic market. C) a perfectly competitive market. D) a monopolistically competitive market.
The demand for all carbonated beverages as a whole is likely to be ________ the demand for Dr. Pepper
A) perfectly inelastic compared to B) perfectly elastic compared to C) more elastic than D) less elastic than
When a firm incurs losses in the short run, the most important consideration in determining whether to continue producing is whether
a. marginal cost equals marginal revenue b. average total cost is at its minimum c. average variable cost is at its minimum d. revenues cover some of its fixed costs and all of its variable cost e. total revenue exceeds total cost