Efficiency wages will raise the quantity of labor supplied to the market
a. True
b. False
Indicate whether the statement is true or false
True
You might also like to view...
In the table above, how many jackets must Mark forgo for every dress he makes?
A) 2/3 of a jacket B) 1 jacket C) 24 dresses D) 16 jackets E) 1 1/2 jackets
If a good is price inelastic, a decrease in price will:
A) decrease total revenue. B) increase total revenue. C) not affect income. D) none of the above.
If a monopoly is price discriminating between two groups, A and B, based on observable customer characteristics, there is a difference in the marginal cost of selling to the two groups, and the elasticity of demand for group A is -1.5 while the elasticity of demand for group B is -2.1, which of the following is true?
A. The markup and price for group A customers will be higher than for group B customers. B. The markup and price for group B customers will be higher than for group A customers. C. The markup for group A customers will be higher than for group B customers, but there is not enough information to determine which price will be higher. D. The price for group A customers will be higher than for group B customers, but there is not enough information to determine which markup will be higher.
According to critics of advertising, when advertising is used by a firm, the price of the firm’s product will ______.
a. fluctuate b. stabilize c. increase d. decrease