Excess capacity refers to any unsold output due to insufficient demand
Indicate whether the statement is true or false
FALSE
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An article in the Wall Street Journal in early 2001 noted two developments in the market for laser eye surgery. The first development concerned side effects from the surgery, including blurred vision
The second development was that the companies renting eye-surgery machinery to doctors had reduced their charges. In the market for laser eye surgeries, these two developments A) decreased demand and increased supply resulting in an increase in both the equilibrium quantity and the equilibrium price of laser eye surgeries. B) decreased demand and increased supply, resulting in a decrease in both the equilibrium price and the equilibrium quantity of laser eye surgeries. C) decreased demand and decreased supply, resulting in a decrease in the equilibrium quantity and an increase in the equilibrium price of laser eye surgeries. D) decreased demand and increased supply, resulting in a decrease in the equilibrium price and an uncertain effect on the equilibrium quantity of laser eye surgeries.
The practice of tying can make entry difficult
Indicate whether the statement is true or false
Upon graduation, you are offered three jobs
Company Salary Bonus Probability of Receiving Bonus Samsa Exterminators 100,000 20,000 .90 Gradgrind Tech 100,000 30,000 .70 Goblin Fruits 115,000 -------- ------- Rank the three job offers in terms of expected income, from the highest to the lowest. A) Samsa Exterminators, Gradgrind Tech, Goblin Fruits B) Samsa Exterminators, Goblin Fruits, Gradgrind Tech C) Gradgrind Tech, Samsa Exterminators, Goblin Fruits D) Gradgrind Tech, Goblin Fruits, Samsa Exterminators E) Goblin Fruits, Samsa Exterminators, Gradgrind Tech
The employment/population ratio identifies the proportion of the population age 16 and over that is
a. either looking for work or on layoff waiting to be rehired. b. employed. c. in the labor force. d. unemployed.