In Sewei's lawnmowing business, in order to produce each mowed lawn, Sewei must hire exactly one unit of capital (a lawnmower) and exactly one unit of labor. Describe the elasticity of substitution between labor and capital
What will be an ideal response?
Since substitution is not possible here, there is zero elasticity of substitution.
Economics
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If Congress fails to pass a budget before the fiscal year starts, then federal agencies may continue to operate only if Congress has passed a:
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Between the summer of 2005 and April 2008, the Chinese yuan ___ against the U.S. dollar
A. appreciated by 5% B. appreciated by 21% C. depreciated by 5% D. depreciated by 20%
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