Suppose the short-run production function is q = 10 ? L. If the wage rate is $10 per unit of labor, then MC equals
A) q.
B) q/10.
C) 10/q.
D) 1.
D
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In perfect competition, the
A) market demand for the good or service is large relative to the minimum efficient scale of a single producer. B) market demand for the good or service is small relative to the minimum efficient scale of a single producer. C) market demand for the good or service can be small relative to the minimum efficient scale of a single producer as long as the goods or services are not identical. D) size of the market demand for the good or service relative to the minimum efficient scale of a single producer does not affect competition.
The reason that time deposits are subject to zero reserve requirements is that _______.
Fill in the blank(s) with the appropriate word(s).
As of 2010, the Gini coefficient was 33.9 in India and 40.8 in the United States. We can interpret this to mean that inequality:
A. is not a problem in either country. B. is greater in the United States than in India. C. is about the same in the two countries. D. is greater in India than the United States.
The first major law created to control the growth of monopoly power was the
A. Robinson-Patman Act. B. Sherman Act. C. FTC Act. D. Clayton Act.