A perfectly competitive firm's marginal cost exceeds its marginal revenue at its current output. To increase its profit, the firm will
A) lower its price.
B) raise its price.
C) decrease its output.
D) increase its output.
C
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Requiring that applicants get drug tested is an example of:
A. statistical discrimination. B. building a reputation. C. screening. D. signaling.
A closed shop is one in which
A) a union is prohibited. B) some members belong to the union while others do not. C) belonging to a union is a condition of employment. D) the union is a co-manager of the day-to-day operations of the firm.
If the stock market crashes, then
a. aggregate demand decreases, which the Fed could offset by purchasing bonds. b. aggregate demand decreases, which the Fed could offset by selling bonds. c. aggregate demand increases, which the Fed could offset by selling bonds. d. aggregate demand increases, which the Fed could offset by purchasing the money supply.
Suppose that a vaccine is developed for a highly contagious strain of flu. The likelihood that anyone will get this flu decreases as more people receive the vaccine. One of the demand curves below represents the private demand for the vaccine and the other represents the social demand for the vaccine.
The private market equilibrium quantity is ________ doses per day.
A. 75 B. 100 C. 125 D. 50