When two variables move in opposite directions, they are said to be:
A) uncorrelated.
B) positively correlated.
C) negatively correlated.
D) directionally correlated.
C
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What is one possible reason a firm that produces balloons might outsource its accounting department?
A) There is no longer economies of scale. B) There are now economies of scope. C) There is no longer economies of scope. D) There are now economies of scale.
Which of the following is an example of basic research?
a. Conducting animal tests to determine if a product contains irritants b. Soft drink bottlers testing consumer reactions to their advertisements c. A statistician calculating the odds of winning a promotional sweepstakes that a company is running d. A catalog sales company timing its operators to see how many calls each is handling per day e. A chemist building a mathematical model of the atmosphere of Jupiter
The theory of oligopoly provides a reason why
a. perfect competition is not a useful object of study. b. price is less than marginal cost for many firms. c. all countries can benefit from free trade among nations. d. firms do not want to capture larger shares of their markets.
A government wants to reduce electricity consumption by 10%. The price elasticity of demand for electricity is -5. The government must ________ the price of electricity by ________.
A. raise; 0.5% B. raise; 2.0% C. raise; 1.25% D. lower; 0.5%