Refer to the figure above. What is the price effect of a price increase from $3 to $5?
A) $200
B) $400
C) $800
D) $1,000
C
Economics
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The figure above shows the demand for and supply of labor of students in Smallville. If the minimum wage is set at $6 per hour, how many hours do students work?
A) 12,000 hours B) 9,000 hours C) 6,000 hours D) None of the above answers is correct.
Economics
In a long-run equilibrium in a perfectly competitive market, the average firm earns positive economic profits.
Answer the following statement true (T) or false (F)
Economics
Downsizing may result in an increase in accounting costs
Indicate whether the statement is true or false
Economics