Author Question: If all prices rise by 5 percent and money income remains constant, the new budget line will have ... (Read 96 times)

jazziefee · **on:** Jun 29, 2018

If all prices rise by 5 percent and money income remains constant, the new budget line will have

A) a steeper slope.
B) a flatter slope.
C) a positive slope.
D) the same slope.

Question 2

The above table shows the short-run total product schedule for the campus book store. When the book store hires the 3rd employee

A) the bookstore is still experiencing increasing marginal returns.
B) the book store has already begun to experience diminishing marginal returns, but average product is still rising.
C) both marginal and average product have already begun to decline.
D) marginal product is at its maximum.