An improvement in technology would shift
a. the demand curve leftward
b. the demand curve rightward
c. the supply curve leftward
d. neither the supply nor the demand curve; instead, there is movement along both of them
e. the supply curve rightward
E
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Based on annual data from 2000-2010, the Gadget Company estimates that sales are growing according to a linear trend:
Q = 50,000 + 200t where t is time and t = 0 in 2000. a. Forecast sales for 2013. b. Do you see any problems with this forecasting method?
Other things being equal, demand is less elastic
A. the more substitutes a good has. B. the more expensive the good is. C. the longer is the time period for adjustment. D. the smaller the percentage of a total budget that a family spends on a good.
A game in which any gains within the group are exactly offset by equal losses by the end of the game is a
A) positive-sum game. B) zero-sum game. C) strategy. D) negative-sum game.
Owners claim residual income
Indicate whether the statement is true or false