Ceteris paribus means
A) making all the necessary changes.
B) other things constant.
C) the assumption of rational behavior
D) as realistic as it can be
Answer: B
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The price of peaches goes up and I observe you buying fewer strawberries. This implies strawberries must be a normal good.
Answer the following statement true (T) or false (F)
A welding machine is an example of a factor of production if it is being used to produce automobiles
Indicate whether the statement is true or false
It has been argued that the laws that prohibited branch banking were needed to protect consumers from large monopoly banks. Does that argument hold up to close scrutiny? Explain.
What will be an ideal response?
Refer to the data provided in Table 9.4 below to answer the question(s) that follow. Table 9.4qTFCTVCTCMCAVCATC0$100 $0$100 ---- -- 11004014040 40 140 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 67.42Refer to Table 9.4. If the market price is $56 and the firm produces 5 units of output, then its profit would be
A. -$100. B. -$88. C. $0. D. $36.