In a graph of a firm's short-run total costs and total revenue, the total cost and the total revenue curves, respectively, will intersect the vertical axis
A) above the origin, above the origin.
B) above the origin, at the origin.
C) at the origin, at the origin.
D) below the origin, below the origin.
B
Economics
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As the price of dvds increases from $3 to $5, the quantity demanded falls from 220,000 to 180,000 . The price elasticity of demand for dvds is:
a. -0.40 b. -0.33 c. -3.00 d. -2.50
Economics
The CEO of Banner Enterprises adopts a new welfare policy for all employees. The policy states that the company will prevent wages from falling when there is an economic downturn, but the employees should not expect huge salary increases when the economy is strong again. This is an example of _____
a. the efficiency wage theory b. an implicit contract c. a seasonal contract d. an adverse selection
Economics