Privatization of a state-owned monopoly can
A) allow governments to capture future producer surplus.
B) allow governments to be more efficient.
C) reduce bribery of government officials.
D) increases chances of reelection for politicians.
A
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Dose-response functions for environmental hazards
a. always have thresholds c. must arise from the origin b. are strictly linear d. none of the above
The figure above shows the market for fast food restaurant employees in a college town in a small nation to the East. The local Taco Bell pays its workers $12 an hour. This wage rate is
A) designed reduce the unemployment rate. B) an effort to increase the demand for labor. C) illegal because the equilibrium wage rate is $6 an hour. D) an efficiency wage aimed at reducing employee turnover. E) the actual equilibrium wage rate.
Which of the following would not describe two thirds of the for-profit businesses in the United States as measured by sheer number of firms?
a. small retail businesses b. small service operations c. part-time home-based businesses d. small farms e. multinational corporation
Which formula is used to calculate total revenue?
a. TR = P x Q b. TR = P + Q c. TR = P – Q d. TR = P/Q