Which of the following decreases the supply of labor that competes with union labor?
A) an increase in the minimum wage
B) an increase in the demand for imported goods
C) new laws that restrict immigration
D) All of the above would cause a decrease in the supply of labor that competes with union labor.
C
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Which of the following situations is the most common? Men and women
a. doing the same job and getting equal pay. b. doing the same job and getting unequal pay. c. doing very different kinds of work and consequently having different earnings. d. randomly distributed across occupations with average earnings about equal.
A monopolist maximizes profit by producing the quantity at which MC = MR, just like a perfect competitor
a. True b. False Indicate whether the statement is true or false
“Economies of scope” occur when
A. fixed costs are high and marginal costs are low. B. a monopoly can produce for the entire market. C. similar production techniques can be applied to several products. D. costs are fully distributed.
OPEC is an example of a
A. cartel (though an imperfect example). B. perfect competitor. C. natural monopolist. D. complete competitor.