The greater the positive cross elasticity of demand between products A and B, the:
a. greater the degree to which they are substitutes
b. greater the degree to which they are complements.
c. smaller the elasticity of demand for both products.
d. greater will be both products responsiveness to changes in income.
a
Economics
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Marginal physical product of labor measures the
a. quantity of output produced by hiring workers b. change in output generated by hiring an additional worker c. change in revenue generated by hiring an additional worker d. change in cost generated by hiring one additional worker e. change in labor productivity generated by a change in capital employed
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Government transfer payments include all of the following except
a. retirement benefits b. paid vacations c. veteran benefits d. disability payments e. subsidies to farmers
Economics