According to the law of diminishing returns,
a. Some productions factors are fixed
b. All inputs are variable
c. All inputs are fixed
d. None of the above
a
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At the time of the Civil War the most important crop in the South was _________.
Fill in the blank(s) with the appropriate word(s).
Suppose early one Friday morning the economics club buys 200 donuts at 25 cents each, and plans to sell all of them later in day on campus for 50 cents each
Only 60 donuts are sold at 50 cents, however, and by early afternoon the club is seen trying to unload the remaining donuts for 10 cents each. What is the correct price of one of donut? A) 10 cents B) 25 cents C) 50 cents D) Stated this way, the question is meaningless.
Other things remaining the same, the quantity of a good or service demanded will increase if the price of the good or service Question 25 options:
A. rises or falls. B. does not change. C. falls. D. rises.
If the interest rate is 12%, the current market value of $1 to be delivered in one year is
A. $0.89. B. $0.95. C. $1.00. D. $1.15.