Differences in what can explain the wage gap between U.S.-born and foreign-born workers?
(a) Culture
(b) Schooling
(c) Urbanization
(d) All of the above
(b)
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A two-part tariff refers to a pricing schedule under which a buyer must pay a fixed fee for the right to purchase the product, in addition to a per-unit price
Indicate whether the statement is true or false
Answer the following statements true (T) or false (F)
1. Once the monopolistic competitor is established and earning positive economic profits, no other firms will be able to profitably enter the market. 2. There are no benefits to monopolistic competition, because it does not provide either productive or allocative efficiency. 3. Oligopolies can form when smaller firms would have higher average costs and be unable to compete, while larger firms would produce such a high quantity that they would not be able to sell it at a profitable price. 4. Even when oligopolists recognize that they would benefit as a group by acting like a monopoly, if one or more give in to the temptation to produce just a slightly higher quantity and earn a slightly higher profit, the market price will fall. 5. Because of antitrust regulations, merging businesses are not allowed to hire workers or lay them off for a period of at least 18 months.
In the market for loanable funds, the law of supply:
A. reflects that more people will choose to save the lower is the interest rate. B. reflects that more people will choose to borrow the higher is the interest rate. C. reflects that more people will choose to borrow the lower is the interest rate. D. reflects that more people will choose to save the higher is the interest rate.
An increased demand for lawyers' services to prosecute damage suits
What will be an ideal response?