Suppose the production of mp3 players can be represented by the following production function: q = L0.4K0.4. Which of the following statements is (are) TRUE?
A) The production function has decreasing returns to scale.
B) The marginal productivity of labor falls as labor increases in the short run.
C) Capital and labor can be substituted for one another.
D) All of the above.
D
Economics
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The high unemployment of 2008–2010 caused a substantial decrease in inflation, which created fears of deflation.
Answer the following statement true (T) or false (F)
Economics
Microeconomics
A. is generally too complex and abstract to be of much use in making real-world business decisions. B. studies the behavior of individual economic units or segments of the economy. C. contributes to the understanding of ordinary business practices or tactics. D. all of the above. E. both b and c.
Economics