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Economics Homework Five Answers - Student Ten (view source)
Revision as of 13:16, October 15, 2009
, 13:16, October 15, 2009no edit summary
'''1. Define, in your own words, economic “efficiency”. Use it in an example sentence.'''
'''1. Define, in your own words, economic “efficiency”. Use it in an example sentence.'''
Minimum waste, with maximum output. If every one arrived at work on time, didn’t take smoking breaks and socialize, both the company and the employees would be more successful.
'''2. Suppose the cross elasticity of demand for goods A and B is +3.8, and for goods X and Y is -2.7. What can you conclude about the relationship of the goods A and B, and of X and Y?'''
'''2. Suppose the cross elasticity of demand for goods A and B is +3.8, and for goods X and Y is -2.7. What can you conclude about the relationship of the goods A and B, and of X and Y?'''