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3 years ago

An increase in the price of gasoline will reduce the amount of gasoline purchased. This is

Business

1 answer:

nekit [7.7K]3 years ago

5 0

Answer:

<h2>In this case,the answer is option is B. or a positive economic statement.</h2>

Explanation:

In Economics or any Social Science,a positive statement basically refers to an assertion,proposition,fact etc. that can be practically tested or evaluated by examining statistical or empirical data,information and/or facts.
In this instance,the statement given represents an economic relationship between two economic variables,that is,price of gasoline and its consumption level.
Therefore,this is a general statement that can be verified or evaluated by collecting and examining relevant numerical data or facts on the price of gasoline and its consumption level at various parts of the country.
Following the data or numerical fact collection on both price of gasoline and its consumption or purchase level,a basic correlation study can be conducted between the two concerned variables to determine whether the gasoline price has any practical impact on its consumption level.

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Do you think workers today can benefit from unions ? why or why not ?

lawyer [7]

Yes because without unions, the head of the company can create working conditions and pay scales that satisfy themselves and barely pass government regulations. An example would be undocumented workers who work non union jobs and have horrible working conditions. They cannot report due to the fact that they are undocumented. A union creates a work environment and a solid fall back for employees. Employees have the union to back them up and protect them from an “unfair boss”. Without unions the workers have no ground to stand as an employee base.

5 0

3 years ago

Consider the following production function: Q=(L+K)1/2

boyakko [2]

Answer:

(a) MPL = 1/2

(b) MPK = 1/2

(d) APK = = L/2K+ 1/2

(e) TRSL,K = 1

Explanation:

Q = (L+K)1/2 = L/2 + K/2 ……………………………………………………. (1)

Where Q is the total output, L is Labour and K is capital

(a) What is the Marginal Product of Labor (MPL)?

To get MPL, differentiate equation (1) with respect to L as follows:

MPL = dQ/dL = 1/2

(b) What is the Marginal Product of Capital (MPK)?

To get MPK, differentiate equation with respect to K as follows:

MPK = dQ/dL = 1/2

Both MPL and MPK are diminishing since each of them is 1/2 which less than one.

(c) What is the Average Product of Labor (APL)?

To calculate APL, divide equation (1) by L as follows:

APL = Q/L = (L/2)/L + (K/2)/L

= 1/2+ K/2L

(d) What is the Average Product of Capital (MPK)?

To calculate APK, divide equation (1) by K as follows:

APL = Q/K = (L/2)/K + (K/2)/K

= L/2K+ 1/2

(e) What is the TRSL,K ?

TRSL,K implies Technical Rate of Subsitution of L for K = MPK/MPL

TRSL,K = MPK/MPL

Since both MPK and MPL are each equal to 1/2 as calculated under (a) and (b) above, we substitute for them in the TRSL,K as follows:

TRSL,K = MPK/MPL = (1/2)/(1/2) = 1

(e.1.) Is the absolute value of TRSL,K diminishing in L or K?

No, it neither diminishing in L nor K since the answer is equal to 1.

(e.2.) Are there constant, decreasing, or increasing returns to scale?

Since the TRSL,K is equal to 1, it implies there is a constant return to scale.

I wish you the best.

8 0

3 years ago

Before advertising agencies emerged early advertisers would purchase sections in newspapers and magazines and sell it to various

iris [78.8K]

Answer:

True

Explanation:

Space brokers can be considered a primitive type of advertising agent. Space brokers bought space in newspapers in bulk, and therefore received a discount. They assumed the risk of not being able to sell the spaces and lose money while the newspapers benefited from sure sales. When the space brokers sold the space to their clients, they could charge them the normal newspaper rate (without discount) and they would still make money. This is similar to modern day advertising agencies that collect fees from media companies for placing ads.

4 0

3 years ago

What is the total of tim’s liabilities if he has recorded $50,000 in assets and $40,000 equity on a balance sheet?

miss Akunina [59]

Total assets = Total liabilities + Total stockholders' equity

Total liabilities = Total assets - Total stockholders' equity

Total liabilities = $50,000 - $40,000

Total liabilities = $10,000

Hence, the total of Tim's liabilities is $10,000.

Responsibility is the responsibility of the individual or company and is usually the amount. Debts are settled over time by the transfer of economic interests, including money, goods, or services. The liabilities shown on the right side of the balance sheet include loans, liabilities, mortgages, income receivable, borrowings, guarantees, and accrued expenses.

Liability can be compared to assets. Debt is what you owe or owe. An asset is something you own or owe. In general, liability is an obligation between one party and another that has not yet been exempted or paid. In the accounting world, financial liabilities are also obligatory but are more likely to be defined by past commerce, events, sales, asset or service exchanges, or those that will generate economic benefits in the future.

Learn more about Liability here: brainly.com/question/24534918

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7 0

2 years ago

A(n) ___________ is a collection of information arranged for easy access and retrieval.

Viktor [21]

Answer:

a)data base

Explanation:

4 0

4 years ago