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If demand is inelastic, the absolute value of the price elasticity of demand is what? User: Which of the following best explains why unemployment rates are higher in the European economies than in the United States? A. More Europeans go to school fulltime and are therefore not able to participate in the labor market. B. European industries pay a lower wage rate than industries in the United States. C. Workers in Europe are less productive than workers in the United States. D. ...
Weegy: A. More Europeans go to school fulltime and are therefore not able to participate in the labor market. User: Marginal revenue product of labor for a competitive seller is A. the change in total product from hiring one more worker. B. the marginal revenue of the product multiplied by the output price. C. the output price multiplied by the quantity sold. D. equal to the marginal product of labor multiplied by the output price. (More)
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Asked 6/11/2011 8:31:38 AM
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Which of the following is not a critical function of the government in facilitating the operation of a market economy? A. protecting private property. B. enforcing contracts. C. ensuring an equal distribution of income to all citizens. D. enforcing property rights.
Weegy: A. protecting private property. User: If demand is inelastic, the absolute value of the price elasticity of demand is A. one. B. greater than the absolute value of the slope of the demand curve. C. greater than one. D. less than one. (More)
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Asked 6/11/2011 8:27:27 AM
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Which of the following displays rivalry and excludability in consumption? A. public goods B. quasi-public goods C. common resources D. private goods
Weegy: D. private goods User: Which of the following displays these two characteristics: rivalry and nonexcludability? A. a public good B. a quasi-public good C. a common resource D. a private good Weegy: kindly check this link.. [smile] (More)
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Asked 6/11/2011 9:06:35 AM
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