Empirical evidence indicates that most firms operate where marginal and average variable costs are constant
Indicate whether the statement is true or false
TRUE
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If the price of textbooks increases by one percent and the quantity demanded falls by one-half percent, then demand for textbooks is:
A. negative. B. inelastic. C. unit elastic. D. elastic.
Which of the following statements is TRUE?
A) consumption - investment = disposable income B) consumption - saving = personal income C) consumption + saving = disposable income D) consumption + saving = personal income
As the general population has aged, there has been an increase in the number of nursing homes, community health facilities along with the development of home care facilities. All of these factors have produced an increase in the demand for nurses. Simultaneously, improved job opportunities for women other fields have reduced the supply of nurses. Despite these factors, hospitals, the major employers of nurses, have resisted wage increases. The resulting situation can be described as
A. a cost disease in the service sector. B. a shortage of nurses. C. the problem of auxiliary restrictions. D. a wage floor problem.
The most heavily traded American stocks are traded on the
a. New York Stock Exchange. b. American Stock Exchange. c. regional stock markets. d. "third market."