All these factors can lead to economies of scale in production, except:
a. division of labor that helps in specialization.
b. merger of two firms.
c. hiring larger machines which are more efficient than the smaller ones.
d. increase in overhead expenses.
e. research and development.
d
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A decrease in personal taxes would shift the aggregate demand curve rightward
Indicate whether the statement is true or false
Lazy Lucy's parents decided that they would only pay her tuition if she passes all her classes. They would stop paying her tuition if she procrastinates and fails her courses. Lucy's parent's decision is a solution to a ________problem
a. Adverse selection b. Moral hazard c. Forced bankruptcy d. None of the above
Changes in tax rates impact the economy through:
A. Both aggregate demand and aggregate supply. B. Aggregate supply. C. Aggregate demand.
What is the relationship between price elasticity of demand and total revenue for the firm?
What will be an ideal response?