A policy of marginal-cost pricing will ensure that many regulated industries will lose money
a. True
b. False
Indicate whether the statement is true or false
True
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How does a fall in the money wage rate affect the aggregate supply curve?
What will be an ideal response?
Cartels display a pronounced tendency to disintegrate over time because
A) increased profits induce laziness and carelessness among cartel members. B) nobody benefits in the long run from their operation since they merely redistribute wealth. C) their operation is so blatantly contrary to the public interest. D) there are so many margins on which competition can occur.
Refer to Scenario 17.1. If the threshold educational level y* is set at 10,
A) only individuals in Group A will attain it. B) only individuals in Group B will attain it. C) individuals in both groups will attain it. D) no individuals will attain it. E) some fraction of individuals in each group will attain it.
Which of the following industries would be considered to have a labor intensive production process?
A. Printing a novel B. Farming in a poor country C. Building a road. D. Driving a truck.