Which of the following will cause a shift in the demand curve of labor?
A. a decline in the price of a complementary input
B. an increase or decrease in the productivity of labor
C. an increase or decrease in the demand for the product labor produces
D. all of these
Answer: D
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St. Mary's Church has a balloon payment of $100,000 due on its mortgage in two years. If the interest rate is 8 percent, the present value of St. Mary's balloon mortgage payment is
A) $100,000.00. B) $116,640.00. C) $85, 733.88. D) None of the above answers is correct.
Which resource earns the highest economic rent as a proportion of total earnings?
a. a resource specialized in one task b. a nonspecialized resource c. a resource with inelastic demand d. a resource in low demand e. a resource with elastic demand
The employee is thinking like an entrepreneur in which of the following situations?
What will be an ideal response?
A risk-neutral monopoly must set output before it knows the market price. There is a 50 percent chance the firm's demand curve will be P = 40 ? Q and a 50 percent chance it will be P = 60 ? Q. The marginal cost of the firm is MC = 3Q. What is the expression for the expected marginal revenue function?
A. E(MR) = 30 ? 2Q B. E(MR) = 50 ? 2Q C. E(MR) = 60 ? 2Q D. E(MR) = 40 ? 2Q