Refer to the figure above. The relative price of T (in terms of S) is
A) 2.
B) 1/2.
C) 500.
D) 1000.
A
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Since rent controls have been in effect in New York City, apartments have been more plentiful.
Answer the following statement true (T) or false (F)
Anna owns a dog grooming salon in Brunswick, Georgia. The above table has Anna's total product schedule. Anna pays each worker $300 per week and she pays rent of $600 a week for her salon. These are her only costs
When Anna has a staff of 6 workers, her average fixed cost equals A) $600. B) $2.50. C) $7.50. D) $10.00. E) $6.00.
OnWheels and Speedstar are the only two manufacturers of sports cars. The cars manufactured by these companies are considered to be close substitutes, but are not identical. How should each firm determine its price in this case?
What will be an ideal response?
Suppose that there is a negative aggregate demand shock and the central bank commits to an inflation rate target. But if the commitment is not credible, then
A) the public's expected inflation will remain unchanged. B) the short-run aggregate supply curve will rise. C) economic contraction will be worse. D) all of the above. E) both B and C.