Which of the following is never negative? * average product marginal product O production elasticity marginal rate of technical substitution The variation in an economic time- series which is caused by major expansions or contractions usually of greater than a year in duration is known as: secular trend O unpredictable random factor cyclical variation seasonal effect
Which of the following is never negative? * average product marginal product O production elasticity marginal rate of technical substitution The variation in an economic time- series which is caused by major expansions or contractions usually of greater than a year in duration is known as: secular trend O unpredictable random factor cyclical variation seasonal effect
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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![Ooredoo li
A docs.google.com
Which of the following is never
negative?
average product
marginal product
production elasticity
O marginal rate of technical substitution
The variation in an economic time-
series which is caused by major
expansions or contractions usually of
greater than a year in duration is known
as:
secular trend
unpredictable random factor
cyclical variation
seasonal effect](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F6a231f1a-01a4-4505-9ee3-ed20b3525081%2F4a815f73-d957-4487-8d60-1ae19f081a3b%2F5zepjf6_processed.png&w=3840&q=75)
Transcribed Image Text:Ooredoo li
A docs.google.com
Which of the following is never
negative?
average product
marginal product
production elasticity
O marginal rate of technical substitution
The variation in an economic time-
series which is caused by major
expansions or contractions usually of
greater than a year in duration is known
as:
secular trend
unpredictable random factor
cyclical variation
seasonal effect
![۱۰:۰۳ ص
Ooredoo li
A docs.google.com
Consider the following linear demand
function where QD = quantity
demanded, P = selling price, and Y =
disposable income: QD = -36 - 2.1P +
.24Y. The coefficient of Y (i.e., .24)
indicates that (all other things being
held constant): *
for a one unit increase in disposable
income, quantity demanded would
increase by 2.1 units
for a one percent increase in
disposable income, quantity
demanded would decline by 2.1
percent
for a one percent increase in
disposable income, quantity
demanded would decline by 0.24
percent
for a one percent increase in
disposable income, quantity
demanded would increase by 0.24
percent](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F6a231f1a-01a4-4505-9ee3-ed20b3525081%2F4a815f73-d957-4487-8d60-1ae19f081a3b%2Fcvq63fn_processed.png&w=3840&q=75)
Transcribed Image Text:۱۰:۰۳ ص
Ooredoo li
A docs.google.com
Consider the following linear demand
function where QD = quantity
demanded, P = selling price, and Y =
disposable income: QD = -36 - 2.1P +
.24Y. The coefficient of Y (i.e., .24)
indicates that (all other things being
held constant): *
for a one unit increase in disposable
income, quantity demanded would
increase by 2.1 units
for a one percent increase in
disposable income, quantity
demanded would decline by 2.1
percent
for a one percent increase in
disposable income, quantity
demanded would decline by 0.24
percent
for a one percent increase in
disposable income, quantity
demanded would increase by 0.24
percent
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