If a firm is hiring in a perfectly competitive labor market, the firm's marginal labor cost (or marginal resource cost) curve slopes downward
a. True
b. False
B
Economics
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When dealing with negative externalities, government action is required
A) only if transactions cost are low. B) for any bargain to be successful. C) only in environmental disputes. D) only if transactions costs preclude bargaining between polluter and victim.
Economics
If total revenue falls when output increases, marginal revenue is
A) positive. B) negative. C) zero. D) greater than total revenue. E) elastic.
Economics
Which of the following policies face difficult problems of timing?
A) Fiscal policy B) Monetary policy C) Both of the above. D) None of the above.
Economics
Which of the following is likely among the most concentrated industries in the United States?
A. primary aluminum B. wheat farms C. computers D. breakfast cereals
Economics