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Diminishing returns to tractors indicates that:
a. Having more tractors does not always lead to more output.
b. Having more tractors leads to increases in output only if there are corresponding increases in technology.
c. Additional output may be produced with fewer tractors.
d. Having more tractors leads to more output, but at a decreasing rate.
Based on this information, what is the opportunity cost, in dollars, of seeing Drake?
Suppose farmers can use their land to grown either wheat or corn. The law of supply predicts that an increase in the market price of wheat will cause:
An increase in government spending on health care is likely to shift the: A. short-run aggregate supply curve to the left. B. aggregate demand curve to the left. C. short-run aggregate supply curve to the right. D. aggregate demand curve to the right..
How can the culture and teamwork support innovation in the organisation? Give examples of how organisations can foster and develop the culture of innovation.
After the economic crisis of 1929, the Congress of the United States of America passed the Banking Act of 1935. That legislation clearly establishes who is the
Why do you think the Fed Chairman is generally considered to be the second most powerful official in government after the President?
Hamsung , Inc., a manufacturer of electronic appliances, estimated the unit cost of one of its products as follows: Material costs $ 63 Labor costs $ 24 Overhead $110 $197 The overhead cost is made up of $50 per unit variable costs and $60 per unit f..
It is not unknown that nearly everyone in our nation is working for one thing and one thing; money. We spend lots of time during our life time going to school to prepare ourselves for the workforce and then we spend the rest of our lives working to p..
If the random variable X is normally distributed with mean and standard deviation, then the random variable Z defined by is also normally distributed with mean 0 and standard deviation 1.
Elucidate the difference in approaches and describe the impact these differences have on excess quantity of labor supplied.
Subprime lending is thought to be a contributing factor to the recent housing bubble. Which of the following is an example of subprime lending?
The discussion on price ceilings supposed that the medical industry faces increasing marginal costs of production. Suppose a for-profit, monopolistic hospital is experiencing economics of scale
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