A minimum wage above the equilibrium wage leads to an excess quantity supplied of labor.
Answer the following statement true (T) or false (F)
True
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All else equal, ________ is likely to have a greater ________ effect on the net present value than ________.
A) expensing the investment; positive; straight-line deprecation B) expensing the investment; negative; straight-line deprecation C) straight-line deprecation; positive; immediate depreciation D) straight-line deprecation; positive; expensing the investment
What is the term used for the process by which an entrepreneur creates or recognizes a new and better product, acquires it, and brings it to market, making older substitutes obsolete?
a. creative destruction b. innovation c. the substitution effect d. backward-bending innovation
Suppose Toor's beer is sold in a monopolistically competitive market. If the price of Toor's is currently $2 and the average cost of producing Toor's is $1, in the long run we can expect:
A. the demand for Toor's beer to increase. B. the price of Toor's beer to decrease, and the average cost of producing Toor's to increase. C. the demand curve for Toor's beer to become horizontal. D. no change in the price or average cost of producing Toor's beer.
Is it possible for technological change to be negative? If so, give an example
What will be an ideal response?