5) 5) Price elasticity of demand is the: A. change in the quantity of a good demanded divided by the change in the price of that good B. change in the price of a good divided by the change in the quantity of that good demanded C. percentage change in price of that good divided by the percentage change in the quantity of that good demanded D. percentage change in quantity demanded of a good divided by the percentage change in the price of that good
s
Question|Rated good
Updated 47 days ago|6/19/2020 2:47:28 PM
Original conversation
User: 5) 5) Price elasticity of demand is the: A. change in the quantity of a good demanded divided by the change in the price of that good B. change in the price of a good divided by the change in the quantity of that good demanded C. percentage change in price of that good divided by the percentage change in the quantity of that good demanded D. percentage change in quantity demanded of a good divided by the percentage change in the price of that good

Weegy: A. change in the quantity of a good demanded divided by the change in the price of that good.
mirajane|Points 156|

User: 6) 6) If average movie ticket prices rise by about 5 percent and attendance falls by about 2 percent, other things being equal, the elasticity of demand for movie tickets is about: A. 0.0 B. 0.4 C. 0.6 D. 2.5

Weegy: D. 2.5
AwesomeGuy200|Points 1177|

User: 7) 7) When labor is the variable input, the average product equals the A. marginal product divided by the number of workers B. marginal product multiplied by the number of workers C. number of workers divided by the quantity of output D. quantity of output divided by the number of workers

Weegy: D. quantity of output divided by the number of workers
bananayumboat|Points 313|

User: 8) The increase in output obtained by hiring an additional worker is known as A. the average product B. the marginal product C. the total product D. value added

User: 9) 9) Which of the following is the best example of a long-run decision? A. An automobile manufacturing company is considering whether or not to invest in robotic equipment to develop a more cost-effective production technique. B. An automobile manufacturing company is considering whether or not to expand its existing workforce, while keeping the same factory and equipment. C. A business consulting firm is considering whether or not to hire interns to assist with research and data processing. D. A business consulting firm is considering whether or not to add new computers while maintaining the same number of employees.

Weegy: A. An automobile manufacturing company is considering whether or not to invest in robotic equipment to develop a more cost-effective production technique.
may100|Points 1634|

User: 10) 10) Other things being equal, when average productivity falls, A. average fixed cost must rise B. marginal cost must rise C. average total cost must rise D. average variable cost must rise

User: 10) Other things being equal, when average productivity falls, A. average fixed cost must rise B. marginal cost must rise C. average total cost must rise D. average variable cost must rise

Weegy: D. average variable cost must rise

User: 11) According to economist Colin Camerer of the California Institute of Technology, many New York taxi drivers decide when to finish work by setting an income goal for themselves. If this is true, then on busy days when the effective hourly wage is higher, taxi drivers will A. work the same number of hours as they will on slower days B. work fewer hours than they will on slower days C. work more hours than they will on slower days D. not work any hours

Question|Rated good
Updated 47 days ago|6/19/2020 2:47:28 PM
Rating
3
According to economist Colin Camerer of the California Institute of Technology, many New York taxi drivers decide when to finish work by setting an income goal for themselves. If this is true, then on busy days when the effective hourly wage is higher, taxi drivers will work fewer hours than they will on slower days.
Added 47 days ago|6/19/2020 2:47:28 PM

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