In economics, the term technology refers to different ways of combining resources to produce output. In this sense, technological advances make possible the production of more output from a given amount of resources
a. True
b. False
Indicate whether the statement is true or false
True
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In the figure above, using the midpoint method, what is the price elasticity of demand between points A and B?
A) 0.05 B) 0.13 C) 0.43 D) 1.00 E) 2.33
To graph a relationship involving more than two variables, we use which assumption?
A) linear assumption B) positive relationship assumption C) marginal analysis D) ceteris paribus E) trend assumption
If it costs $6.00 to go to the movies and $25.00 to go to a hockey game, Tom is maximizing his utility between movies and hockey if his marginal utility of movies is 12 units and his marginal utility from hockey is 50
Indicate whether the statement is true or false
When white males resist to share responsibilities with members of a minority group, it is termed as:
a. employer prejudice. b. consumer prejudice c. worker prejudice. d. statistical discrimination. e. occupational segregation.