Economists define the long run as any production time period lasting over one year
a. True
b. False
Indicate whether the statement is true or false
False
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The following table contains information regarding price and output for a firm. For each point except the first, calculate the elasticity between it and the point above. Price Quantity Elasticity $7 10 _____ 6 20 _____ 5 30 _____ 4 40 _____ 3 50 _____ 2 60 _____ 1 70 _____
What will be an ideal response?
Refer to the figure above. Exports for this country equal
A) OA units of Z. B) AB units of Z. C) AC units of Y. D) AD units of Y.
Technological advances can cause the labor demand curve to shift
a. True b. False Indicate whether the statement is true or false
One major part of the opportunity costs of one's decision to go to college after high-school graduation is the
A. high-school diploma needed in order to apply for college. B. full-time job that one could have gotten instead of going to college. C. education that one gets while in college. D. additional income that one can get if one had a college degree.