If both prices increases by 50%,
A) budget constraint will be unchanged.
B) slope of the budget constraint stay the same.
C) slope of the budget constraint will decrease.
D) budget constraint will shift outward in a parallel fashion.
B
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There is some evidence that demographic changes in the composition of the workforce are ________ the growth rate of labor quality, and thus ________ the growth rate of output per labor hour
A) raising, decreasing B) raising, increasing C) lowering, decreasing D) lowering, increasing
At low levels of production, marginal productivity of labor increases as labor increases. At high levels of production, marginal productivity of labor decreases as labor increases. Are these two statements contradictory? Explain
What will be an ideal response?
Celebrity endorsements are often used by monopolistically competitive firms to boost the reputation of the product that is being endorsed
a. True b. False Indicate whether the statement is true or false
If a new shopping mall is built on the outskirts of a town, we can expect
a. location rent on commercially developed, downtown land to be unaffected b. lands near the new mall to receive location rent c. commercially developed, downtown land rent to rise because competition for downtown lands will have weakened d. lands near the new mall to receive zero location rent e. location rent for commercially developed, downtown land to increase