A production possibilities frontier figure does NOT illustrate
A) the limits on production imposed by our limited resources and technology.
B) the exchange of one good or service for another.
C) opportunity cost.
D) attainable and unattainable points.
B
Economics
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If the absolute value of the price elasticity of demand for DVD movies is 0.8 then the elasticity of demand of the DVD for the movie The Hangover should be
A) less then 0.8 in absolute value. B) equal to zero because the DVD of this movie has been out for several years. C) equal to 1 in absolute value. D) greater than 0.8 in absolute value.
Economics
Advertising has no effect on the demand schedule for a good
a. True b. False Indicate whether the statement is true or false
Economics