With respect to the classical labor market analysis, it is not assumed that
a. firms have complete information with respect to relevant prices.
b. workers negotiate for unique wages individually.
c. money wages adjust with a short lag.
d. All of the above
e. None of the above
A
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Which of the following leads to a lower rate of capacity utilization in a firm, assuming all else equal?
A) An increase in the number of workers in the firm B) An increase in the demand for the firm's product C) A decrease in the number of workers in the firm D) A decrease in the price of the firm's product
In a competitive industry, the competitive firm's profits are
a. independent of the industry in which they compete b. closely linked to the industry in which they compete c. determined only by their own differentiated product d. determined solely by the inelastic demand for their product
A customs duty is
a. a tax in the form of a percentage of the value of the good taxed b. a fixed tax in the form of cents or dollars per unit of the good c. a sales tax applied to a foreign good d. any tax levied on a good e. the same as a poll tax
In Figure 32.1, at the supported price-quantity combination where production is limited, the variable cost to producers is 
A. 0HCQ*. B. 0ABQD. C. 0HGQD. D. 0HEQS.