Collective bargaining in the United States typically involves negotiations between
A) the government and management over the minimum wage law.
B) the management of a company and the leaders of the union over the wages and fringe benefits to be offered.
C) an individual and her boss over the appropriate salary level.
D) union and nonunion employees regarding work rules.
B
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Diseconomies of scale are illustrated graphically by an upward shift of the firm's long-run average cost curve
Indicate whether the statement is true or false
Ceteris paribus, a change in the quantity supplied along the supply curve of Braun coffee makers is:
a. directly related to the price of a Morphy Richards coffee maker. b. directly related to the price of milk and cream. c. directly related to the prices of inputs used in the production of Braun coffee makers. d. directly related to changes in the technology used in producing coffee makers. e. directly related to the price of a Braun coffee maker.
If good A and good B are complements, then the cross price elasticity of demand of good A for a change in the price of good B is
A. negative. B. positive and greater than 1. C. positive and less than 1. D. zero.
In regulating a natural monopoly, the price strategy that ensures the highest possible output and zero profit is one that sets price
A) equal to average total cost where it intersects the demand curve. B) equal to marginal cost where it intersects the demand curve. C) equal to average variable cost where it intersects the demand curve. D) corresponding to the demand curve where marginal revenue equals zero.