Samurai Sushi produces sushi using one variable input - labor. Samurai Sushi is a consumer in the ________ market and a producer in the ________ market.
A. labor; sushi
B. capital; labor
C. sushi; labor
D. capital; sushi
Answer: A
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What does an empty core signify about the resources of the negotiators?
An economic system that permits the conduct of business with minimal government intervention
a. free enterprise b. traditional economy c. incentive d. safety net e. socialism
Which of the following examples accurately shows the cross-price elasticity of demand?
a. A +3 percent price for rye bread and a +6 percent demand for oatmeal bread equals a cross-price elasticity of demand of +18. b. A +9 percent price for roses and a +11 percent demand for tulips equals a cross-price elasticity of demand of +2. c. A +7 percent price for bar soap and a +21 percent demand for liquid soap equals a cross-price elasticity of demand of +28. d. A +10 percent price for chocolate chip cookies and a +30 percent demand for oatmeal raisin cookies equals a cross-price elasticity of demand of +3.
Walmart grocery sales are ________ times the sales of the next-largest grocery chain (Kroger).
A. one and one-half B. more than twenty C. between three and four D. exactly ten