If two goods, "x" and "y", are perfect substitutes, then which of the following best represents the utility function for the two goods?
A) U = x + y
B) U = x ? y
C) U = x2 + y2
D) Any of the above.
A
Economics
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Based on the table below, the four-firm concentration ratio equals what percentage of annual sales?
A) 33 percent B) 40 percent C) 60 percent D) 100 percent
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In the Keynesian model, if aggregate expenditures exceed aggregate output and inventories of firms fall, then the aggregate output and the business sector could be expected to:
a. increase output. b. decrease output. c. decrease investment. d. hire fewer workers.
Economics