A firm employs 15,000 workers and has annual revenues of over $750 million. Knowing this, we also know that the firm is in what type of market structure?
a. monopoly
b. oligopoly
c. monopolistic competition
d. perfect competition
e. impossible to tell what market structure the firm is in
E
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Which of the following represents the marginal cost of a soda? I. The opportunity cost of producing another soda. II. The minimum price someone is willing to pay for another soda
A) I only B) II only C) I and II D) Neither I nor II
If the prices of imported resources decrease, then this event would most likely:
A. increase aggregate demand. B. increase aggregate supply. C. decrease aggregate demand. D. decrease aggregate supply.
Refer to the information provided in Figure 2.4 below to answer the question(s) that follow.
Figure 2.4According to Figure 2.4, as the economy moves from Point B to Point D, the opportunity cost of motorcycles, measured in terms of hybrid cars,
A. increases B. remains constant. C. initially increases, then decreases. D. decreases.
One factor that contributed to the growth in the share of population employed in the United States between 1960 and 2010 was increased:
A. male labor force participation. B. female labor force participation. C. minimum wages. D. labor union participation.