If the price of one input changes, generally the firm will change its use of both inputs.
Answer the following statement true (T) or false (F)
True
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If the slope of the consumption schedule is 0.75, then the slope of the saving schedule is
A. 0.75. B. 1.25. C. 0.25. D. not possible to determine from the data.
In the short run, a perfectly competitive firm ________ make an economic profit and ________ incur an economic loss
A) might; will never B) will never; might C) might; might D) will never; will never E) will definitely; will never
When new firms enter a perfectly competitive market, the market supply curve shifts ________ and the price ________
A) rightward; falls B) rightward; rises C) leftward; falls D) leftward; rises E) rightward; does not change
Due to low interest rates, increased banking regulations, and technological change, JPMorgan Chase announced it would ________ the number of persons it employed in 2015 and this would ________ the total number of persons unemployed in the economy
A) decrease; increase B) increase; decrease C) decrease; decrease D) increase; increase