Refer to the table above. What is the marginal rent cost if the firm decides to choose factory Far over factory Very Far?
A) $40
B) $100
C) $150
D) -$150
A
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Statistical discrimination refers to
a. the statistical measurement of the effects of prejudice on minorities excluded from employment b. the monetary impact of prejudice on minorities, in contrast to the nonmonetary impact c. government tracking of the economy-wide impact of discrimination against minorities d. using statistics to explain employer discrimination against minorities e. exclusion of individuals from an activity due to the probability of behavior in their group rather than personal characteristics
Why don't competitive markets do a good job providing public goods?
a. Because people do not receive benefits from public goods. b. Because it is difficult to exclude people from gaining benefits from public goods without paying for them, and so market demand does not reflect the benefits to society from the public good. c. Because public goods generate negative externalities, and pollution taxes reduce the incentive for firms to supply public goods. d. Because firms cannot produce enough to satisfy market demand.
Commitment devices:
A. need strong commitments that are hard to get out of in order to be successful. B. can be successful whether they have strong or weak commitments. C. are never strong commitments that are hard to get out of. D. are only successful if they are weak commitments that are easy to change.
An advantage of the establishment survey over the household survey of the labor market is that the establishment survey
A) is based on actual payrolls, rather than on unverified answers. B) includes the number of self-employed persons. C) includes persons employed at newly opened firms. D) provides an estimate of the number of persons unemployed.