Firms pay celebrities to endorse their products because they believe this will increase the demand for these products.
a. true
b. false
a. true
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Suppose the market supply curve is p = 5Q. If price increases from 10 to 15, the change in producer surplus is
A) 25. B) 5. C) 12.5. D) 20.
One opportunity cost associated with going to college is
A) purchasing text books. B) paying tuition. C) giving up employment possibilities while in college. D) paying for room, board, and other living expenses.
A firm sells 99 units of output when price equals $10 and 100 units of output when price equals $9. Its marginal revenue for the 100th unit of output is negative.
Answer the following statement true (T) or false (F)
A general mismatch between the skills of unemployed workers and the skills needed by employers with job openings results in:
A. frictional unemployment. B. structural unemployment. C. cyclical unemployment. D. a higher labor force participation rate.