Which of the following statements is false?
A) An inverse relationship has a negative slope value.
B) A direct relationship has a positive slope value.
C) A curved line has slope values that change at every point.
D) A straight line has a slope of zero.
Answer: D
Economics
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Minimum efficient scale is the level of output at which
a. short-run average total cost stops decreasing b. short-run average total cost stops increasing c. long-run average cost stops decreasing d. long-run average cost stops increasing e. profit stops increasing
Economics
Suppose that the percentage change in supply is 20%, the price elasticity of demand is 3, and the percentage change in the equilibrium price is 4%. What is the price elasticity of supply?
A. 0 B. 2 C. 4 D. 5
Economics