Ooredoo liA docs.google.comWhich of the following is nevernegative?average productmarginal productproduction elasticityO marginal rate of technical substitutionThe variation in an economic time-series which is caused by majorexpansions or contractions usually ofgreater than a year in duration is knownas:secular trendunpredictable random factorcyclical variationseasonal effect ۱۰:۰۳ صOoredoo liA docs.google.comConsider the following linear demandfunction where QD = quantitydemanded, P = selling price, and Y =disposable income: QD = -36 - 2.1P +.24Y. The coefficient of Y (i.e., .24)indicates that (all other things beingheld constant): *for a one unit increase in disposableincome, quantity demanded wouldincrease by 2.1 unitsfor a one percent increase indisposable income, quantitydemanded would decline by 2.1percentfor a one percent increase indisposable income, quantitydemanded would decline by 0.24percentfor a one percent increase indisposable income, quantitydemanded would increase by 0.24percent

1) From the given options, the average product can never be negative. This is because the average…

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

Managerial Economics: Applications, Strategies and Tactics (MindTap Course List)

14th Edition

ISBN:9781305506381

Author:James R. McGuigan, R. Charles Moyer, Frederick H.deB. Harris

Publisher:James R. McGuigan, R. Charles Moyer, Frederick H.deB. Harris

Chapter4: Estimating Demand

Section: Chapter Questions

Problem 6E

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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 percent increase in disposable income, quantity demanded would increase by 0.24 percent 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
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