A 10 percent decrease in advertising results in a 5 percent sales decrease. The advertising elasticity of demand is ________
A) -2.0
B) -0.5
C) 0.5
D) 2
E) none of the above
C
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The producer surplus on a unit of output is the difference between the market price and the opportunity cost of producing it
Indicate whether the statement is true or false
Suppose that a local government decides to provide more funds to the local police department in order for the department to hire additional police officers. Is there an opportunity cost of this action? If so, how would you measure it?
What will be an ideal response?
Which of the following is NOT considered a receipt in the balance of payments?
A) exports of goods B) capital inflows C) import of services D) unilateral transfers to U.S. citizens
Over the air television signals are ____________ ; television signals available through cable are
a. Public goods, public goods b. Public goods, common property resources c. Private goods, private goods d. Common property resource, private goods