Increasing returns in production implies the following, except:
A. Increasing labor-requirements per unit of output
B. Decreasing per-unit production costs
C. Economies of scale
D. An increase in the productivity of inputs
A. Increasing labor-requirements per unit of output
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Mergers that significantly impede effective competition are ________.
A) prohibited by both the United States and the European Union laws B) prohibited by the European Union competition laws, but not the United States antitrust laws C) prohibited by the United States antitrust laws, but not the European Union competition laws D) generally legal in both the United States and the European Union
Refer to the above table. How many worker will this firm hire if the weekly wage rate is $1350?
A) 28 B) 25 C) 26 D) 27
Markets can fail to achieve efficiency when
a. there are prices consumers do not think are fair. b. there are wages workers do not think are fair. c. trade puts people out of work. d. there are public goods.
Refer to the information provided in Figure 2.4 below to answer the question(s) that follow.
Figure 2.4According to Figure 2.4, as the economy moves from Point E to Point A, the opportunity cost of hybrid cars, measured in terms of motorcycles
A. increases. B. initially increases, then decreases. C. decreases. D. remains constant.