If slope = -2 for a line on a graph with x on the horizontal axis and y on the vertical axis, then if
a. x increases by 4, y increases by 8
b. x increases by 4, y increases by 2
c. y increases by 4, x increases by 8
d. x = 4, y = 8
e. x increases by 4, y decreases by 8
E
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The current chair of the Federal Reserve System is
a. Tim Geithner. b. Hillary Clinton. c. Ben Bernanke. d. Alan Greenspan. e. Janet Yellen
The soft drink industry can best be described as:
A) an oligopoly. B) a monopoly. C) perfectly competitive. D) monopolistically competitive.
Refer to the data provided in Table 9.3 below to answer the following question(s). Table 9.3qTFCTVCTCMCAVCATC0$100 $0$100 ---- -- 1100401404040 140 21006016020 30 80 31009019030 30 63.334100124 224 343156 5100180 280 56 36 56 6100 264 364 84 44 60.677100 372 472 108 53.14 67.43Refer to Table 9.3. If the market price is $20, then this firm will maximize profits by producing ________ units of output.
A. zero B. one C. two D. three
Opportunity cost is best defined as
A) the sum of the dollar values of all alternatives given up when choices are made. B) the cost of producing the purchased goods. C) the next highest valued alternative when a choice is made. D) the dollar price of the purchased item.