In many regulated industries, marginal cost will be
A. below average cost.
B. above total cost.
C. above marginal fixed cost.
D. below incremental cost.
Answer: A
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Workers who are underemployed are:
A) not counted in the labor force. B) considered as employed. C) considered as discouraged workers. D) considered as unemployed.
Which of the following can shift the labor demand curve to the left?
a. decrease in the price of the good b. increase in the wage rate c. decrease in the wage rate d. increase in MPP e. increase in labor productivity
The price mechanism
A. works best when many competing business firms are in each industry. B. works best when government through a central planning agency sets prices. C. works best when corporations set prices for a market economy. D. All of the choices are true about price mechanism.
A demand curve that is parallel to the horizontal axis is:
A. perfectly inelastic. B. perfectly elastic. C. relatively inelastic. D. relatively elastic.