Biology Forums - Study Force

As the price is raised along a straight-line demand curve, the demand curve becomes more elastic.
 a. True
  b. False
  Indicate whether the statement is true or false

QUESTION 2

Dave recently began running his father's farm. Last year he took in 15,000 in sales revenue and paid 10,200 in out-of-pocket costs. He made an economic profit last year:
 a. if his implicit costs were 3000.
  b. if his implicit costs were 4000.
  c. if his implicit costs were 5000.
  d. In both cases a. and b.

QUESTION 3

Proponents of comparable worth justifies it on the ground that:
 a. interfering with the functioning of the labor market will lead to shortages of labor.
  b. interfering with the functioning of the labor market will lead to excess supplies of labor.
  c. as a result of personal prejudices the market is unable to assess marginal products.
  d. market correctly processes the innumerable information which is available.
  e. interaction of demand and supply correctly determines the wage rate.

QUESTION 4

A perfectly inelastic demand curve is represented by an upward-sloping straight line.
 a. True
  b. False
  Indicate whether the statement is true or false

QUESTION 5

Dave recently began running his father's farm. Last year he took in 15,000 in sales revenue and paid 10,200 in out-of-pocket costs. He made an economic loss last year:
 a. if his implicit costs were 3000.
  b. if his implicit costs were 4000.
  c. if his implicit costs were 5000.
  d. In none of the above cases.

QUESTION 6

Which of the following determines comparable worth of a particular job?
 a. Cultural background of the applicants
  b. Gender of the candidates applying for a job
  c. Race of the applicants for the job
  d. Level of formal education required for a job
  e. National origin of the workers in a factory

Content hidden

Thank you for always stepping in by helping me with my homework