This topic contains a solution. Click here to go to the answer

Author Question: When the total product curve is drawn in a figure that measures employment along the horizontal ... (Read 68 times)

Lobcity

  • Hero Member
  • *****
  • Posts: 524
When the total product curve is drawn in a figure that measures employment along the horizontal axis, it is a graph that shows the
 
  A) minimum cost of producing a given amount of output using different techniques.
  B) maximum profit attainable for each unit of output sold per unit of labor employed.
  C) maximum output attainable for each quantity of labor employed.
  D) minimum output attainable for each quantity of labor employed.

Question 2

The more substitutes available for a product, the
 
  A) larger is its price elasticity of demand.
  B) smaller is its income elasticity of demand.
  C) smaller is its price elasticity of demand.
  D) larger is its income elasticity of demand.



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

Yixagurpuldink

  • Sr. Member
  • ****
  • Posts: 341
Answer to Question 1

C

Answer to Question 2

A




Lobcity

  • Member
  • Posts: 524
Reply 2 on: Jun 29, 2018
Excellent


Dominic

  • Member
  • Posts: 328
Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

 

Did you know?

The first war in which wide-scale use of anesthetics occurred was the Civil War, and 80% of all wounds were in the extremities.

Did you know?

The term pharmacology is derived from the Greek words pharmakon("claim, medicine, poison, or remedy") and logos ("study").

Did you know?

The immune system needs 9.5 hours of sleep in total darkness to recharge completely.

Did you know?

It is believed that humans initially contracted crabs from gorillas about 3 million years ago from either sleeping in gorilla nests or eating the apes.

Did you know?

Between 1999 and 2012, American adults with high total cholesterol decreased from 18.3% to 12.9%

For a complete list of videos, visit our video library