Which of the following statements is true?
A. The total variable cost curve shows the variable costs of production given current factor prices.
B. Total variable cost is inversely related to output.
C. Total variable cost is always greater than total fixed cost.
D. The total variable cost curve decreases as output increases.
Answer: A
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A researcher wants to test the effects of daily meditation on stress levels of individuals. She divides the participants randomly into a treatment group and into a control group and conducts an experiment
She pays for meditation classes for one-half of the subjects, and the other half does not join the class. Which of the following statements is true of the two groups in this experiment? A) The participants in the treatment group are assigned by chance, whereas the ones in the control group are assigned by choice. B) The participants in the control group are assigned by chance, whereas the participants in the treatment group are assigned by choice. C) The treatment group is the group of subjects that receives finance from the researcher for meditation classes; the control group is the group that does not. D) The control group is the group of subjects that receives finance from the researcher to join the meditation class; the treatment group is the group that does not.
A state with "right-to-work" laws would most likely have
A) higher employment levels than neighboring states without such laws. B) more workers' benefits than neighboring states without such laws. C) more union workers than neighboring states without such laws. D) more worker safety requirements than neighboring states without such laws.
Price elasticity of demand is measured using percentage changes. Why?
What will be an ideal response?
How does an increase in income affect the market of iPads (normal good)?
a. The demand curve for iPads to shift to the right b. The demand curve for iPads to shift to the left c. The supply curve for iPads to shift to the right d. The supply curve for iPads to shift to the left