All cross elasticities are positive
Indicate whether the statement is true or false
F
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An increase in the real interest rate is an example of a
A) pure substitution effect. B) substitution effect and a positive income effect. C) substitution effect and a negative income effect. D) substitution effect and an income effect whose sign depends on whether the consumer is initially a borrower or a lender.
The marginal rate of transformation from good X to good Y:
A. is the sum of a firm's marginal products. B. is the ratio of a firm's marginal products. C. is the product of a firm's marginal products. D. is the difference between a firm's marginal products.
Which of the following is an implicit cost to Mondo Manufacturing, Inc? a. Payments of wages to its office workers
b. Property taxes. c. Depreciation charges on company owned automobiles and trucks. d. Rent paid for the use of equipment.
Whether or not a production process shows economies of scale depends on
a. the number of inputs used. b. technology. c. technology and input prices. d. technology and output prices.