Which theory was based on the observation that early in the development of a commodity, all the parts and labor come from the area in which it was invented?
What will be an ideal response?
product life cycle
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Suppose there are three houses in a neighborhood. The residents are considering installing street lights and are trying to determine how many lights need to be installed
Each resident's willingness to pay for street lights is given in the table below. Number of Street Lights House 1 House 2 House 3 1 $300 $400 $200 2 $280 $360 $160 3 $240 $300 $120 4 $180 $220 $100 5 $80 $100 $10 If the cost of installing one light is $500, how many lights will be installed? A) 1 B) 2 C) 4 D) 5
A period of stagflation is part of the normal aftermath of a period of excessive aggregate demand.
Answer the following statement true (T) or false (F)
You are better off choosing $100 today rather than $200 in 9 years if the interest rate is
a. lower than about 8 percent. b. higher than about 8 percent. c. lower than about 10 percent. d. higher than about 10 percent.
At consumer equilibrium, the marginal utility of one dollar’s worth of any good is equal to ______.
a. one b. the total utility of all other goods combined. c. the marginal utility of one dollar’s worth of any other good d. zero