If demand for a product is perfectly inelastic, a change in price will not change total revenue
Indicate whether the statement is true or false
FALSE
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At a corner solution, which of the following is know to be true?
a. The slope of the indifference curve equals the slope of the budget line. b. The slope of the indifference curve is greater than the slope of the budget line. c. The slope of the indifference curve is less than the slope of the budget line. d. The slope of the indifference curve does not equal the slope of the budget line.
The percentage of women in the U.S. labor force ___________ between 1880 and 1920
a. increased b. decreased c. remained relatively constant
Excess demand of a product exerts __________pressure on prices
a. Zero b. No c. Upward d. Downward
Joe runs a pizzeria at a busy place in a city. Around 125 customers visit every day and they each buy 3 pizzas on average. Joe has employed 20 laborers to make pizzas. The productivity of one laborer per day in the pizzeria is equal to _____
a. 6.25 pizzas per worker b. 18.75 pizzas per worker c. 6.67 pizzas per worker d. 41.67 pizzas per worker e. 20.75 pizzas per worker