The primary purpose of labor unions is to
A. strike.
B. give individuals greater bargaining power with employers.
C. change our economic system.
D. provide workers with political power.
B. give individuals greater bargaining power with employers.
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The implicit cost of ownership:
A. is a cognitive bias. B. is an unproven concept. C. is the monetary opportunity cost that is often overlooked. D. All of these are true.
When economic profits are zero, accounting profits are most likely:
A. positive. B. negative. C. zero. D. All of these are likely.
The government's court case against Microsoft is an example of:
a. predatory pricing. b. antitrust enforcement. c. economic regulation. d. the regulatory dilemma.
A firm operating in a perfectly competitive market may earn positive, negative, or zero economic profit in the long run
a. True b. False Indicate whether the statement is true or false