Contribution margin is
a. the contribution of each unit sold towards covering the fixed costs
b. the contribution of each unit sold towards covering the variable costs
c. the contribution of each unit sold towards covering the average variable costs
d. All of the above
a
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Usually an abundance of natural resources ________ average labor productivity.
A. has no effect on B. decreases C. increases D. doubles
If the elasticity of supply coefficient for a good is one-sixth (in absolute terms), we know:
a. that for every 1% increase in quantity, there will be a 6% increase in price. b. that for every 1% increase in quantity, there will be a 6% decrease in price. c. that for every 6% increase in quantity, there will be a 1% increase in price. d. that for every 6% increase in quantity, there will be a 1% decrease in price.
Which concept do some scholars use to explain the growth in free trade after World War II?
a. regionalization b. voluntary export restraint c. embedded liberalism d. hegemonic stability
Refer to the information provided in Figure 2.5 below to answer the question(s) that follow.
Figure 2.5Refer to Figure 2.5. The marginal rate of transformation in moving from Point B to Point A is
A. -2/3. B. -3/4. C. -1.5. D. -20.