Which of the following examples would most likely happen if the federal government raised minimum wage from $7.25 to $12.00?
a. A bottling plant would double its hiring of low-skilled workers.
b. A low-skilled worker in an automobile factory would be replaced by a robot.
c. A low-skilled worker in a shipyard would receive a significant raise.
d. A steel mill would offer educational opportunities for low-skilled workers.
b. A low-skilled worker in an automobile factory would be replaced by a robot.
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By the 18th century, the bulk of world output was produced in:
a. Asia b. Africa c. Europe d. The Asian offshoots e. none of the above
The Supreme Court's decision in the Standard Oil of New Jersey case was
A) to force the company to send refund checks to customers.
B) to force the company to pay $10 billion in fines.
C) to increase the fine imposed by a lower court.
D) to break up the company.
ATC - AVC = ________________.
Fill in the blank(s) with the appropriate word(s).
The equation for the demand curve in the below diagram:
A. is P = 70 - Q.
B. is P = 35 - 2Q.
C. is P = 35 - .5Q.
D. cannot be determined from the information given.