If the economy receives an influx of new workers from immigration,
A) we will move down along the long-run aggregate supply curve.
B) we will move up along the long-run aggregate supply curve.
C) the long-run aggregate supply curve will shift to the right.
D) the long-run aggregate supply curve will shift to the left.
C
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What does job specialization do?
a. It allows workers to focus on the parts of the production process where they have an advantage. b. It allows workers to focus on all aspects of the production process. c. It allows organizations to maximize the tasks in which workers perform. d. It allows the production process to be performed by a single worker.
Verizon has a monopoly over local telephone service. If Verizon is producing where marginal revenue is greater than marginal cost, the firm
A. could increase profits by reducing output. B. must be earning zero profit. C. could increase profits by increasing output. D. is maximizing profits.
A merger will usually be challenged if which of the following is expected to occur as a result of the merger?
A) competition remains after the merger B) a price decrease C) a decrease in consumer surplus D) an increase in consumer surplus
If a firm shuts down in the short run
A) it will lose its operating costs. B) its losses will be equal to zero. C) it will incur its fixed costs. D) it will incur only its explicit costs.