Assume that it is predicted that for the years after you graduate from college, the entire economy will experience a long period of recession during which people's incomes decrease
What type of industry would be the best for you to find employment if this prediction is correct? An industry that produces a product that A) is income elastic.
B) is income inelastic.
C) is inferior.
D) is a complement.
E) none of these industries
C
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Management ______ are measuring devices, techniques, or instruments that are used to arrive at decisions and plans of action
a. Plans b. Actuarial resources c. Quality circles d. Tools
A firm facing a downward-sloping demand curve sells 50 units of output at $10 each. The firm's marginal revenue is
a. $500 b. more than $10 but less than $500 c. $10 d. less than $10 e. zero
One barrier to entry into a monopoly market is:
A. bulk buying. B. commonplace inputs. C. price gouging. D. a natural monopoly.
The graph above shows the demand and cost conditions facing a monopolist. What is the maximum profit the monopolist can earn?
A. $30 B. $2,400 C. $1,800 D. $10 E. $800