Place point C on the graph to indicate where the United States economy operated in 1997.
Economics
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If a firm adopts a labor-saving piece of technology, it will:
A. decrease the marginal supply of labor. B. decrease the marginal product of labor. C. increase the marginal product of labor. D. increase the marginal supply of labor.
Economics
The demand for a product tends to be less elastic as the product accounts for a larger fraction of a consumer's budget.
Answer the following statement true (T) or false (F)
Economics
Which of the following are complementary goods?
A) sport utility vehicles and gasoline B) butter and margarine C) white wine and red wine D) trucks and sedans
Economics
What is a firm? What other terms do economists use interchangeably with the term "firm"?
What will be an ideal response?
Economics