Movie theaters charge lower prices to see a movie in the afternoon than in the evening because there is an:
A. elastic demand to see movies in the afternoon.
B. elastic demand to see movies in the evening.
C. inelastic supply of movies in the evening.
D. inelastic demand to see movies in the afternoon.
Answer: A
Economics
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As a competitive firm hires increasing amounts of labor, the value of marginal product of labor
A) decreases. B) increases. C) remains constant. D) decreases then increases.
Economics
Keynesian and classical theories agree that:
a. AS is upward sloping in the short-run. b. AS is vertical in the long-run. c. sustained AD shocks can also shift AS in the long-run. d. all of the above.
Economics