Pete owns a small store. He has noticed that when he is not at the store monitoring his employees, his revenue goes down. What are two changes Pete could make to wages he pays his employees to correct this problem?
delay payment/tie payment to sales
Pay efficiency wages
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The graph illustrates the supply of sweaters. A fall in the price of sweaters brings
A) a decrease in the quantity supplied of sweaters. B) a movement along the supply curve. C) a shift of the supply curve. D) Both answers A and B are correct. E) Both answers B and C are correct.
A business entity that produces goods or services is referred to as a(n):
A) market. B) firm. C) government. D) industry.
Most economists and policy makers decided in 2007-2010 that reducing unemployment was the main national priority
a. True b. False Indicate whether the statement is true or false
If the firm's marginal cost is a constant $2 per unit, what price will it charge and how many units will it produce if it maximizes its profits?
a. $8 and 2 units b. $7 and 3 units c. $6 and 4 units d. $5 and 5 units