How is human capital most commonly measured?
A. By the organizational rank and seniority
B. By the amount of pay and incentives
C. By the amount of education and training
D. By the compensation structure and work policies
Answer: C
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Which of the following is a reason why individual firms under perfect competition would not find it gainful to advertise their product?
A. The quantity of the product demanded is very large. B. Firms produce a homogeneous product. C. Firms do not make long-run profits. D. The market demand curve cannot be increased.
Suppose potatoes were produced in Canada by many, many firms in perfect competition. In Belgium, only one firm produces potatoes for the Belgium market. Suppose as well that for the competitive firms and the monopoly, minimum ATC is the same. We would expect then, that in Belgium the price of potatoes is _____________ and ____________ potatoes are produced and sold than in Canada
a. higher; more b. lower; more c. higher; fewer d. lower; fewer e. the same; fewer
People earn an income by selling their resources or by using them. Owners of land receive _____, while the owners of capital receive _____.
(a) rent; profit (b) wage; profit (c) profit; rent (d) rent; interest (e) interest; profit
Suppose a cereal firm, Nabisco, merges with both a wheat firm and milling firm. This is an example of a
A) vertical merger. B) horizontal merger. C) parallel merger. D) diagonal merger.