The very high pay earned by the best actors and actresses is partially explained by the fact that
a. they benefit from a compensating differential.
b. moviegoers all want to see the very best actors, not second-rate actors.
c. they have acting degrees from accredited acting schools.
d. the supply of good actors is very large.
b
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What are factors of production? Why are the factors of production said to have a derived demand?
What will be an ideal response?
You and your sister share a room. Your sister prefers sleeping with all windows closed, while you prefer sleeping with at least one window open to let in some fresh air
Since neither of you are willing to give up your own preferences, you end up fighting every night. Is there a possible solution to this problem if you value keeping your windows open at night for $100, while your sister values keeping the windows closed at night for $80?
If total Fed assets __________, then reserves have to __________, everything else being equal
A) fall; rise B) rise; fall C) fall; fall D) None of the above.
A perfectly competitive firm ________ at the level of output where P = ATC.
A. breaks even B. earns an economic profit C. suffers an economic loss D. shuts down