Refer to the information. Which technique is economically most efficient in producing A?
Answer the question on the basis of the following information: Suppose 30 units of product A
can be produced by employing just labor and capital in the four ways shown below. Assume
the prices of labor and capital are $2 and $3 respectively.
A. I.
B. II.
C. III.
D. IV.
D. IV.
Economics
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At the midpoint of a linear demand curve, the price elasticity of demand is:
A) equal to zero. B) between zero and one. C) equal to one. D) greater than one.
Economics
If there is an increase in technology, the long-run aggregate supply curve shifts rightward, but the short-run aggregate supply curve does not shift
Indicate whether the statement is true or false
Economics