The above table indicates that variables x and y are
A) positively related.
B) inversely related.
C) negatively related.
D) not related.
A
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Consider the supply and demand curves depicted in the diagram below. If the government imposed a price ceiling of $15, then buyers will be intending to buy ___, but they will be able to legally buy ____
A. 30 units; 24 units
B. 36 units; 24 units
C. 36 units; 30 units
D. 24 units; more than 24 units
Economics is best defined as the
A) study of how people make choices to satisfy their wants. B) study of individual self-interests. C) study of how government can most efficiently raise funds by taxation. D) process by which goods are sold in free markets.
Young Faces Forever is a skin care company based in the United States that wants to enter the Japanese market. Suppose the managers of Young Faces are aware that there are significant social customs in Japan regarding skin products and these customs are unknown to the managers of Young Faces. All else equal, which of the following entry methods is the least likely to be successful for Young Faces?
A) partnership B) joint venture C) independent entry D) merger
The marginal social cost (MSC) curve
a. lies above the market demand curve b. lies below the market supply curve c. is perfectly elastic at the market price d. is perfectly inelastic e. indicates the total cost of production, when all costs are considered