The quantity of newspapers sold will decline if:
a. newsprint becomes more expensive
b. the printers' union makes wage concessions.
c. newspaper prices are reduced.
d. magazine prices rise.
a
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In the short run, which one of the following causes a competitive firm to hire more labor?
A) an increase in wage rate B) an increase in the output price C) a specific tax imposed on the firm's output D) a decrease in the output price
In the forex, the demand for dollars will decrease if:
A. foreigners wish to buy U.S. goods. B. foreigners wish to buy U.S. financial assets. C. interest rates are lower in the U.S. relative to interest rates abroad. D. interest rates are higher in the U.S. relative to interest rates abroad.
A decrease in the price of capital relative to the price of labor is likely to result in a substitution of capital for labor in the production process
a. True b. False Indicate whether the statement is true or false
A single price profit maximizing monopolist is inefficient because
A. it perfectly price discriminates when it can. B. it produces too much output. C. it produces where price equals marginal cost rather than where marginal cost equals marginal revenue. D. the sum of consumer and producer surplus is less than it could be.