An increase in the supply of labor will ________ real wages and ________ employment
A) increase; increase B) increase; decrease C) decrease; increase D) decrease; decrease
C
Economics
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To maintain a monopoly, a firm must have
A) an insurmountable barrier to entry. B) a perfectly inelastic demand. C) few competitors. D) marginal revenue equal to demand.
Economics
Firm governance must enhance
A) wages. B) control by stockholders. C) efficiency. D) government regulation.
Economics
Karl Marx said that whoever controlled a society's __________ controlled that society.
Fill in the blank(s) with the appropriate word(s).
Economics
A natural monopoly always has
A. a downward sloping marginal cost curve. B. its profit maximization point where price = marginal cost. C. patent rights. D. a downward sloping long run average cost curve.
Economics