When a firm experiences a positive technological change
A) the price of a share of the firm's stock rises.
B) the firm is able to produce more output using the same inputs, or the same output using fewer inputs.
C) the firm will hire additional workers in order to increase production.
D) the value of the firm's assets rises.
B
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Refer to Figure 1A.1. Assume that the graph in this figure represents the demand and supply curves for orange juice. An increase in the price of apple juice, which is a substitute for orange juice, would be represented by a shift from
A) Demand 1 to Demand 2. B) Demand 2 to Demand 1. C) Supply 1 to Supply 2. D) Supply 2 to Supply 1.
Use the above table. Assuming constant opportunity costs, a comparative advantage in producing wine is possessed by
A) neither Argentina or France. B) both Argentina and France. C) Argentina. D) France.
Suppose Island Bikes, a profit-maximizing firm, is the only bike rental company in a small resort town. The marginal cost to Island Bikes of renting out a bike is $3, and Island Bikes has no fixed costs. Each day Island Bikes has six potential customers, whose reservations prices are listed in the table. CustomerReservation Price($/Rental)A22B16C12D8E6F4Suppose Island Bikes knows that customers whose reservation prices are at least $10 always rent bikes before noon, while those whose reservation prices are below $10 never do so. If Island bikes can charge a different price in the morning and in the afternoon, then in the afternoon, it will rent out ________ bike(s) and charge ________ per bike.
A. 3; $4 B. 5; $10 C. 1; $8 D. 2; $6
How does the BLS "seasonally adjust" the unemployment rate?
What will be an ideal response?