A market demand schedule for a product indicates that:
a. As the product's price falls, consumers buy less of the good
b. There is a direct relationship between price and quantity demanded
c. As a product's price falls, consumers buy more of the product.
d. There is an upward-sloping (direct) relationship between price and quantity demanded
c. As a product's price falls, consumers buy more of the product.
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“Equilibrium” is a situation in which there are no inherent forces to produce change.
Answer the following statement true (T) or false (F)
The modification of manufacturing processes so as to reduce the resulting environmental damage is an endeavor that requires capital investment, labor inputs, and technology. What then follows from this statement?
A) Economic growth can benefit the environment. B) Environmental damage is a regrettable but necessary side effect of economic growth. C) The condition of the environment will be better in slower-growing countries. D) The way to reduce pollution is to educate people about its effects.
Which of the following alternatives signify the difference between the present value of a $150 perpetuity and 2-year $150 annuity, both discounted at 15 percent per annum
a. The perpetuity would require an initial investment worth $100 while the annuity would require an initial investment worth $244.07. b. The perpetuity would require an initial investment worth $1,500 while the annuity would require an initial investment worth $115.07. c. The perpetuity would require an initial investment worth $1,000 while the annuity would require an initial investment worth $244.07. d. The perpetuity would require an initial investment worth $100 while the annuity would require an initial investment worth $115.07.
For a firm operating in a perfectly competitive industry, total revenue, marginal revenue, and average revenue are all equal
a. True b. False Indicate whether the statement is true or false