The low-wage workers who escape poverty generally do so permanently
Indicate whether the statement is true or false
F
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Real labor income is given by ________
A) MPL × L B) labor share of income × labor productivity × labor C) labor share of income × output D) all of the above E) none of the above
Show, or explain, why a monopolist with positive marginal costs charges a price on the elastic range of his/her demand curve
The benefits of social regulation are
A) easy to measure by the marginal value method. B) often difficult to measure. C) obvious to almost everyone, but the costs are usually hidden. D) greater than the costs of social regulation in every example in the country today.
In the short run, the perfectly competitive firm will always earn an economic profit when
A. P > ATC. B. P = MC. C. P = ATC. D. P > AVC.