Refer to the information provided in Table 2.1 below to answer the following question(s).
Table 2.1?KrystalMarkWriting Poems812Writing TV Commercials24Refer to Table 2.1. For Mark, the opportunity cost of writing six TV commercials is ________ poems.
A. 2
B. 18
C. 24
D. an indeterminate number of
Answer: B
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When the economy goes through ups and downs over time:
A. it is not reflected by changes in GDP growth. B. economists call this pattern the business cycle. C. it affects the supply of labor. D. All of these are true.
One danger associated with calls for fairness based on reciprocity is that, calls for fair trade may be invoked in cases where, foreign restrictions on U.S. imports do not actually exist
a. True b. False Indicate whether the statement is true or false
The horizontal summation of all individual demands at different given prices results in the
a. market supply curve b. individual supply curve c. individual demand curve d. equilibrium demand and supply curves e. market demand curve
GoFresh and Heptol are leading shower gel producers in a market. The two firms are large enough to cover almost the entire market demand. A new firm that is comparatively smaller wants to enter the market. In the given scenario, which of the following statements is most likely to be true? a. The new firm cannot enter the market because it does not fulfill the legal requirements
b. The new firm cannot enter the market because its product is not liked by the consumers. c. The new firm cannot enter the market because it is technologically difficult for it to produce shower gel. d. The new firm cannot enter the market because it is too small to spend a considerable amount of money on advertising.