A capital intensive production process is one in which:
A. a lot of capital is hired relative to the total inputs needed to produce the good.
B. total costs will be minimized if capital is the primary factor of production used.
C. a part of the production process must be done by capital and cannot be substituted.
D. highly specialized capital is needed to produce the good.
Answer: A
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In the above figure, when the price of a gallon of gasoline falls, which points in the above figure are used to derive points on the consumer's demand curve for gasoline?
A) points A and B B) points A and C C) points B and C D) points A, B, and C
Theatres charge lower prices for a matinee and usually don't accept coupons for the night showing of movies because
A) consumers that attend the matinee have a higher price elasticity of demand. B) consumers that attend the night show have a lower price elasticity of demand. C) it increases profits compared to charging a single price. D) All of the above.
The first attempt by United States workers to organize on a permanent basis was by what Philadelphia group?
a. coal miners b. shoemakers c. bakers d. construction workers e. bankers
A horizontal line has a slope of 0.
Answer the following statement true (T) or false (F)