Janet prefers cashews to almonds. She prefers macadamia nuts to peanuts, but she is indifferent between almonds and peanuts. Which of the following statements can we say for sure?
a. Janet prefers cashews to macadamia nuts.
b. Janet prefers peanuts to cashews.
c. Janet prefers macadamia nuts to almonds.
d. Janet prefers almonds to macadamia nuts.
c
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The phone bill for a company consists of both fixed and variable costs. Refer to the four-month data below and apply the high-low method to answer the question. Minutes Total Bill January 480 $4000 February 200 $2700 March 170 $2640 April 320 $2855 What is the fixed portion of the total cost?
In the following equation, gdp refers to gross domestic product, and FDI refers to foreign direct investment. log(gdp) = 2.65 + 0.527log(bankcredit) + 0.222FDI (0.13) (0.022) (0.017) ? Which of the following statements is then true?
A. If FDI increases by 1%, gdp increases by approximately 22.2%, the amount of bank credit remaining constant. B. If FDI increases by 1%, gdp increases by approximately 26.5%, the amount of bank credit remaining constant. C. If FDI increases by 1%, gdp increases by approximately 24.8%, the amount of bank credit remaining constant. D. If FDI increases by 1%, gdp increases by approximately 52.7%, the amount of bank credit remaining constant.
The demand curve shows the relationship between:
A. money income and quantity demanded. B. price and production costs. C. price and quantity demanded. D. consumer tastes and quantity demanded.
Which of the following statements is correct?
A. TC = TFC - TVC B. TC = average physical product - marginal physical product C. TC = TFC + TVC D. TC = average product + marginal product