In the above table, if the price of labor is $10 per hour and the price of capital is $20 per unit, which method of producing 50 space crafts is economically efficient?

If the percentage change in the quantity demanded of a good is greater than the percentage change in price, price elasticity of demand is:

a. elastic. b. inelastic. c. perfectly inelastic. d. perfectly elastic.

Which of the following is entrusted with the responsibility of settling trade disputes between countries?

a. The European Union b. The International Monetary Fund c. The World Trade Organization d. The International Labor Organization e. The United Nations Organization