A rise in the price of cabbage from $14 to $18 per bushel increases the quantity supplied from 4,000 to 6,000 bushels. The elasticity of supply is
A) 0.6.
B) 0.8.
C) 1.0.
D) 1.6.
D
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Suppose an investor equally allocates their wealth between a risk-free asset and a risky asset. If the MRS of the current allocation is less than the slope of the budget line, then the investor should:
A) shift more of their wealth to the risky asset. B) shift more of their wealth to the risk-free asset. C) keep the same asset allocation. D) We do not have enough information to answer this question.
All of the following statements present accurate information about 18th century New England except:
a. New England exported more fish than England. b. Indian Corn was an important agricultural produce in New England. c. New England had plentiful supplies of timber. d. New England farms were large and highly productive.
Using the information in the table shown, the average revenue for 5 units is:
This table represents the revenues faced by a monopolist.
A. $600
B. $300
C. $3,000
D. $120
Inflation patterns between countries remain constant.
Select whether the statement is true or false.. A. True B. False