If the price of x falls, the budget constraint:
a. shifts outward in a parallel fashion.
b. shifts inward in a parallel fashion.
c. rotates outward about the x-intercept.
d. rotates outward about the y-intercept.
d
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Which of the following variables do you need to know to calculate marginal cost?
i. change in total cost ii. marginal product of labor iii. change in quantity of labor used iv. change in output A) i and ii B) i and iv C) ii and iv D) i, iii, and iv E) Only ii
The concept of minimizing the number of physical units of the inputs needed for a given amount of output is known as
a. technical efficiency. b. the principle of diminishing marginal returns. c. economic efficiency. d. decreasing returns to scale.
What should affect the fundamental value of a stock according to the efficient markets hypothesis?
What will be an ideal response?
In the above figure, along the section of the demand curve between point a and point b, demand is
A) elastic. B) inelastic. C) unit elastic. D) unit inelastic.