Land in horticultural societies is:
a. Owned by individuals.
b. Owned by chiefs or headmen.
c. Owned by men but worked by women.
d. Communally owned by kin groups.
e. Not owned by anyone.
D
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A price elasticity of demand equal to ________ allows a greater markup than a price elasticity of demand equal to ________.
A) 2.8; 2.5 B) 1.4; 1.2 C) 1.5; 1.7 D) 3.9; 3.2
Refer to the figure below. As a result of what occurs in the avocado market, your firm should expect costs to ________, which will cause your firm to ________ supply of ready-made guacamole.
Your firm produces ready-made guacamole and avocados are the primary ingredient. During a news report, weather forecasters just announced that there will be a freeze in the region in which your firm buys avocados. This freeze will likely damage many of the avocados that are almost ready for harvest.
A) decrease; increase B) decrease; decrease
C) increase; decrease D) increase; increase
Which of the following best defines the concept of ancestral characters?
a. traits shared between species due to a shared evolutionary history b. analogous traits shared by unrelated species c. traits shared due to convergent evolution d. features that a species possesses that distinguish them from all related species
If the cost of capital is $80 per hour, the wage paid to employees is $15 per hour, the marginal product of capital is 16 units per hour, and the marginal product of labor is 5 units per hour, to minimize its costs, the firm should ________.
A) increase the amount of labor and capital used B) not change the amount of labor or capital C) decrease the amount of labor used and increase the amount of capital used D) increase the amount of labor used and decrease the amount of capital used