You are planning to run a hot dog stand during a forthcoming fair. You originally estimated that you will generated sales revenue of Rs 2000 and you have already spent Rs 1000 building the hot dog stand. The hot dog stand is nearly completed but now you estimate total sales to be only Rs 800 because the fair clashes with a major music festival in a nearby location. You can complete the hot dog stand for another Rs 300 Your decision rule should be to complete the hot dog stand as long as the cost to complete the stand is less than ?

You are planning to run a hot dog stand during a forthcoming fair. You originally estimated that you will generated sales revenue of Rs 2000 and you have already spent Rs 1000 building the hot dog stand. The hot dog stand is nearly completed but now you estimate total sales to be only Rs 800 because the fair clashes with a major music festival in a nearby location. You can complete the hot dog stand for another Rs 300 Your decision rule should be to complete the hot dog stand as long as the cost to complete the stand is less than ?

A. Rs 300
B. Rs 1000
C. Rs 500
D. Rs 800

The Phillips curve shows that ?

The Phillips curve shows that ?

A. the business cycle has been eliminated
B. an increase in inflation temporarily increases unemployment.
C. inflation and unemployment are unrelated in the short run.
D. a decrease in inflation temporarily increases unemployment.
E. none of these

Workers in Western Europe enjoy a high standard of living because ?

Workers in Western Europe enjoy a high standard of living because ?

A. the countries of Western Europe have set high minimum wage rates.
B. Unions in Western Europe keep the wage high
C. none of these answers.
D. The countries of Western Europe have protected their industries from foreign corporation
E. Workers in the united states are highly productive