Economist george stigler once wrote that, according to consumer theory, if consumers do not buy less of a commodity when their incomes rise, they will surely buy less when the price of the commodity rises.

In each of the following, what happens to the unemployment rate? does the unemployment rate give an accurate impression of what’s happening in the labor market? a.esther lost her job and begins looking for a new one.b.sam, a steelworker who has been out of work since his mill closed last year, becomes discouraged and gives up looking for work.c.dan, the sole earner in his family of 5, just lost his $90,000 job as a research scientist. immediately, he takes a part-time job at starbucks until he can find another job in his field.

If a product goes up in price, and the demand for it drops, that product's demand is a. elastic b. inelastic c. stable d. fixed select the best answer from the choices provided

Kcompany estimates that overhead costs for the next year will be $4,900,000 for indirect labor and $1,000,000 for factory utilities. the company uses direct labor hours as its overhead allocation base. if 100,000 direct labor hours are planned for this next year, what is the company's plantwide overhead rate?