All else equal, the ________ the pool of buyers who can be fooled once by false advertising, the ________ profitable it is to falsely advertise.
A) larger; less
B) smaller; more
C) larger; more
D) greater; least
C) larger; more
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Worker discrimination occurs when
A) workers refuse to perform risky tasks. B) employers pay different employees different wages based on race. C) workers refuse to work with persons of a different race. D) customers refuse to buy products produced by a racially diverse workforce.
Quotas and tariffs discourage foreign governments from retaliating with quotas and tariffs of their own
a. True b. False
Build-Right Concrete Products produces specialty cement used in construction of highways. Build-Right is a price-setting firm and estimates the demand for its cement by the State Highway Department using a demand function in the nonlinear form:Q = aPbMcwhere Q = yards of cement demanded monthly, P = the price of Build-Right's cement per yard, M = state tax revenues per capita, and PR = the price of asphalt per yard. The manager at Build-Right transforms the nonlinear relation into a linear relation for estimation. The estimation results are presented below:
height="198" width="577" /> Given the above, the estimated demand for cement is A. elastic because E = -1.5. B. inelastic because E = -0.32. C. elastic because E = -4.0. D. elastic because E = -2.0. E. inelastic because E = -0.8.
Refer to the below graphs. If union workers decide to take more leisure, while the prices of the products produced by union workers decrease, this situation is depicted in graph:
A. A
B. B
C. C
D. D