Lower ticket prices would lead to more people attending ballgames. Is this statement a normative or positive statement?
Whether the statement is true or false
Answer: True.
Economics
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Answer the following question on the basis of the data given for two regions, East and West, of a hypothetical world. The nations have the production possibilities for units of food and clothing given below.
Refer to the data above. The mutually beneficial terms of trade will be:
A. Greater than 4 units of food for 1 unit of clothing
B. Between 4 and 5 units of food for 1 unit of clothing
C. Between 2 and 3 units of food for 1 unit of clothing
D. Less than 2 units of food for 1 unit of clothing
Economics
Refer to the above table. Suppose the price of the good sold is $10 and the marginal factor cost of labor is $70, how many units of labor will the firm hire?
A. 10 B. 13 C. 12 D. 11
Economics