Which of the following products has the most elastic demand?
A. Coca Cola in 12 oz. cans
B. all cola drinks
C. all carbonated beverages
D. all beverages
Answer: A
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Diminishing marginal productivity can occur due to the following reason(s)
a. the difficulty of monitoring and motivating larger workforces b. the increasing complexity of larger systems c. the "fixity" or permanence of some factor of production d. all of the above
If the export supply curve and the import demand curve of tomatoes of Luxembourg intersect at the international price level of tomatoes, then Luxembourg will suspend trading tomatoes in the international market
a. True b. False Indicate whether the statement is true or false
According to behavioral economics, participants in a half-marathon are likely to have trained
a. more than they planned and run faster than they anticipated. b. more than they planned but run slower than they anticipated. c. less than they planned and run slower than they anticipated. d. less than they planned but run faster than they anticipated.
In the above figure, the slope across the arc between points a and b equals
A) 5. B) 4. C) 2. D) 1.