People with similar, passionate views that are not mainstream can gain political power by ______.
a. each voting individually
b. keeping their feelings quiet and pretending to be mainstream
c. forming a special interest group to lobby their cause
d. boycotting the election
c. forming a special interest group to lobby their cause
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In the short run, a perfectly competitive firm can either make a profit or exit the market.
Answer the following statement true (T) or false (F)
Which of the following is NOT a commitment device?
A. A manufacturer's 2-year agreement to fix, at no cost to you, anything that breaks on your computer. B. A non-refundable advance payment to reserve a room at a resort. C. A pre-nuptial agreement that provides for a large penalty in the event a spouse has an affair. D. High fines for illegal parking on campus.
Describe how Mexico's manufacturing has changed location and type over time
What will be an ideal response?
An increase in product price implies that
A. the firm's demand for labor increases. B. the firm's marginal factor cost will increase. C. the wage rate the firm pays will increase. D. the firm's demand for labor decreases.