People tend to remain in those occupations that require continuous time and financial commitments to remain productive
a. True
b. False
Indicate whether the statement is true or false
False
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What is the motivation for individuals to hold money?
A) to facilitate transactions B) to reduce risk C) to have liquidity D) all of the above
The cross-price elasticity between natural gas and heating oil is estimated to be 2.3 . The cross-price elasticity between natural gas and electricity is estimated to be -0.8
What is the relationship between natural gas and heating oil? What is the relationship between natural gas and electricity? Explain.
Refer to Exhibit 9.2, which shows the cost and revenue curves faced by a monopolist. The demand curve faced by the monopolist at the profit-maximizing output is _____
A) perfectly price elastic.
B) price elastic.
C) price inelastic.
D) unit price elastic.
E) perfectly price inelastic.
The market clearing price of computer modems has just decreased. Which of the following could have caused this change?
A. an increase in demand with supply unchanged B. a decrease in supply at the same time that demand increases C. an increase in supply at the same time that demand decreases D. a decrease in supply with demand unchanged