In a perfectly competitive labor market, the wage rate paid by the individual firm is
A. the equilibrium market wage rate.
B. a function of the tax system.
C. below the equilibrium market wage rate.
D. dependent on the demand for the product.
Answer: A
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Based on the table below, at what world price would the country import the good?
Price Q Demanded Q Supplied 2 100 70 4 95 75 6 90 80 8 85 85 10 80 90 12 75 95 A) a price below $8 B) at exactly $8 C) a price above $8 D) It is impossible to say.
If an average cost pricing rule is imposed on the firm in the figure above, the firm will produce
A) 5 units. B) 20 units. C) 30 units. D) 40 units.
A shift of the U.S. demand curve for Mexican pesos to the left and a decrease in the pesos price per dollar would likely result from:
a. an increase in the U.S. inflation rate relative to the rate in Mexico. b. a change in U.S. consumers' tastes away from Mexican products and toward products made in South Korea, India, and Taiwan. c. U.S. buyers perceiving that domestically-produced products are of a lower quality than products made in Mexico. d. all of these.
Which of the following describes the relationship between net investment and total investment?
a. Net investment = total investment - depreciation b. Total investment = net investment + private investment - depreciation c. Net investment = government investment - private investment - depreciation d. Total investment = net investment - depreciation e. Net investment = government investment - depreciation