If the wage rate were $30, how many workers would be hired?
A. 3
B. 4
C. 5
D. 6
D. 6
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Refer to Figure 15-5. If the monopolist charges price P* for output Q*, in order to maximize profit or minimize loss in the short run, it should
A) continue to produce because price is greater than average variable cost. B) shut down because price is greater than marginal cost. C) continue to produce because a monopolist always earns a profit. D) shut down because price is less than average total cost.
The ability to control a scarce resource or input is a characteristic of perfect competition.
Answer the following statement true (T) or false (F)
The planned investment function shows that
A) real gross investment falls as real NNP increases. B) a negative relationship exists between the level of planned investment and the interest rate. C) a positive relationship exists between planned consumption and planned investment. D) at higher levels of planned saving, planned investment increases.
Table 16.1If each firm depicted in Table 16.1 is currently generating 1,000 gallons of wastewater per day, Firm B would be willing to pay up to ________ to Firm A to be able to generate 2,000 gallons of wastewater per day.
A. $15 B. $20 C. $35 D. $120