The willingness to pay of buyers' in a market:
A. explains why the demand curve is bowed-out.
B. is represented by the supply curve.
C. explains why the demand curve is bowed-in.
D. is represented by the demand curve.
Answer: D
Economics
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Red Stone Creamery currently hires 5 workers. When it added a 6th worker, its output actually fell. Which of the following statements is true?
A) The total product becomes negative. B) The average product of the sixth worker is negative. C) The sixth worker is not as skilled as the fifth worker. D) The marginal product of the sixth worker must be negative.
Economics
Any time the economy is between a trough and a peak of the business cycle it is in a recovery phase
Indicate whether the statement is true or false
Economics