If crude oil is a variable factor of production for a firm, then an increase in the price of crude oil will lead to:
A. a decrease in the firm's supply.
B. a decrease in the quantity supplied by the firm, but no change in the firm's supply.
C. an increase in the quantity supplied by the firm, but no change in the firm's supply.
D. an increase in the firm's supply.
Answer: A
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The decision to innovate
A) depends on the marketing department's needs. B) depends on whether the firm wants to benefit its customers. C) is based on the marginal cost and the marginal revenue of innovation. D) is unnecessary in a monopolistically competitive market. E) None of the above answers is correct.
If the real, risk-free interest rate in the Euro-Area rises the:
a. Supply curve of real loanable funds in the Euro-area rises. b. Supply curve of real loanable funds in the Euro-area falls. c. Demand curve for real loanable funds in the Euro-area rises. d. None of the above.
Determine the required scope of work:
What will be an ideal response?
The actual value of price elasticity of demand
A. is always negative. B. measures the absolute change in quantity demanded when there is a change in price. C. varies with changes in supply. D. will change when the units good is measured in changes.