A graph of two variables is a vertical line. What is the interpretation of this result?
What will be an ideal response?
When the graph of two variables is a vertical line, the variables are not related because, with this graph, whenever the variable measured along the vertical axis changes, the variable measured along the horizontal axis does not change.
You might also like to view...
In one week Alice can produce 5 pairs of shoes or 4 bookshelves while Roger can produce 10 pairs of shoes or 6 bookshelves. Alice has ________ advantage in producing ________
A) an absolute; shoes B) a comparative; shoes C) an absolute; bookshelves D) a comparative; bookshelves
Production should be expanded if marginal cost is greater than marginal revenue
Indicate whether the statement is true or false
In the classical model, an increasing demand for labor will
a. cause an expansion with higher employment and a higher real wage. b. cause a shortage of labor because the labor market always clears. c. cause a recession with lower employment and a lower real wage. d. cause a recession because wages are fixed in the short run. e. cause an expansion with lower employment and a higher real wage.
If a monopolist practices price discrimination, it will:
A) receive more profit than a monopolist that does not price discriminate. B) receive less profit than a monopolist that does not price discriminate. C) produce the same output as a monopolist that does not price discriminate. D) produce less output than a monopolist that does not price discriminate.