A hypothesis is a normative statement
a. True
b. False
Indicate whether the statement is true or false
False
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Pointy Stone State Park is the sole employer of naturalists in the area. The table above provides information about the supply of naturalists and the value of marginal product of labor for naturalists
On the last naturalist hired, Pointy Stone State Park will earn a profit of A) zero. B) $100 per week. C) $150 per week. D) $200 per week.
As we move downward along a demand curve for apples,
A) consumer well-being decreases. B) the marginal utility of apples decreases. C) the marginal utility of apples increases. D) Both A and B are true. E) Both A and C are true.
When the price of Good X increases by 10 percent, the quantity demanded of Good Y increases by 25 percent. The cross elasticity between these two goods is
A. 0.4 and they are complements. B. 2.5 and they are complements. C. 0.4 and they are substitutes. D. 2.5 and they are substitutes.
Refer to the graph shown. Which of the following curves demonstrates a perfectly elastic demand curve?
A. A B. B C. C D. None of the curves