The figure above shows the price of a DVD player from 1996 to 2000. a. What type of graph is illustrated above? b. What is the trend in the price of a DVD player?
What will be an ideal response?
a. The graph is a time-series graph because it plots time along the horizontal axis and the price of a DVD player along the vertical axis.
b. The trend in the price of a DVD player is negative, that is, the price of a DVD player has generally decreased from one year to the next.
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An exponential reserve index assumes
a. That economically recoverable reserves will increase exponentially b. That consumption will increase exponentially c. That the resource lifetime will increase exponentially d. That identified reserves will increase exponentially e. That undiscovered reserves will increase exponentially
An increase in advertising costs affect a firm in a monopolistic competition by increasing the firm's
A) total fixed cost. B) marginal cost. C) total variable cost. D) average variable cost.