If a pet grooming salon hires an additional groomer, that worker can groom 4 additional pets per day. The average grooming fee is $25. The most the salon would be willing to pay that groomer is
A. $4 per day.
B. $25 per day.
C. $100 per day.
D. indeterminate with the given information.
Answer: C
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What distinguishes an unemployed person from one who is not in the labor force?
What will be an ideal response?
Always There Wireless is wireless monopolist in a rural area. There are 200 customers, each of whom has a monthly demand curve for wireless minutes of Qd = 200 - 100P, where P is the per-minute price in dollars and Q is the number of wireless minutes. The marginal cost of providing the wireless service is $0.25 per minute. If Always There charges $0.50 per minute and the largest fixed fee that it can at that price, what is the difference in profit per customer compared to when it charges $0.25 per minute and the largest fixed fee that it can at that price?
A. Profit per customer is the same in both cases, and it is equal to zero. B. Profit per customer is the same in both cases, and it is positive. C. Profit is $3.13 per customer higher at a price of $0.50. D. Profit is $3.13 per customer higher at a price of $0.25.
If more and more labor is employed while keeping all other inputs constant, the marginal physical productivity of labor
a. will eventually increase. b. will eventually decrease. c. will eventually remain constant. d. cannot tell from the information provided.
The MRP schedule of the imperfect competitor declines _____ than that of the perfect competitor.
Fill in the blank(s) with the appropriate word(s).