What is scarcity?

A.

The study of how people decide what they want

B.

The study of the types of products available in an economy

C.

When people want more of something than is available

D.

When people do not want the products that are available

If goods A and B are complements, then an increase in the price of good A will result in: Group of answer choices a. More of good B being sold. b. Less of good B being sold. c. No difference in the quantity sold of either good. d.

Suppose the long-run cost function is C = 3q. What is the cost-output elasticity for this case? A. 1/3 B. 3 C. 2 D. 1

Hudson Corporation is considering three options for managing its data processing operation: continuing with its own staff, hiring an outside vendor to do the managing (referred to as outsourcing), or using a combination of its own staff and an

Dim Corporation purchased 1,000 shares of Witt Corporation stock in 2013 for $800 per share and classified the investment as securities available for sale. Witt's market value was $400 per share on December 31, 2014, and $300 on December 31, 2015.

When the marginal cost of a firm is greater than the market price of its product, the firm should?

7. Debt Irrelevance. Digital Fruit is financed solely by common stock and has outstanding 25 million shares with a market price of $10 a share.

Which economic system has economic roles that are passed from generation to generation?

Kyle Carlson invested $10,000 in a savings account paying 12% interest compounded quarterly. Assuming that he makes no withdrawals, how much interest will he earn during the second quarter of the first year?

If a manager increases the system utilization standard (assuming no change in the customer arrival rate) what happens to the average customer time in the system? A. It increases exponentially. B. It increases proportionally. C.

Let a be the event that a student is enrolled in an accounting course, and let s be the event that a student is enrolled in a statistics course.