Collective bargaining
A. deals only with issues relating to wages.
B. substitutes one labor negotiator for many independent workers.
C. is NOT a function of labor unions.
D. is illegal in the United States.
B. substitutes one labor negotiator for many independent workers.
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Damian owns a tattoo parlor and has hired three tattoo artists to work for him. The marginal product of labor is 8 for the first artist, 12 for the second artist, and 7 for the third artist
What is Damian's average product of labor for these three tattoo artists?
The most comprehensive measure of aggregate output is
A) gross domestic product. B) net national product. C) the stock value of the industrial 500. D) national income.
An indifference curve
A) must slope downward towards the right. B) is positively sloped. C) is upsloping and is concave to the origin. D) may be upsloping or downsloping, depending on whether the two products are complements or substitutes.
An increase in a firm's scale of production leads to no change in average total cost as long as there are
A. diseconomies of scale. B. economies of scale. C. negative returns to scale. D. constant returns to scale.