Market failure is a term used to describe what happens when market arrangements do not allocate resources efficiently
a. True
b. False
Indicate whether the statement is true or false
True
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As a firm hires more labor in the short run, the
A) extra output of another worker may rise at first, but eventually must fall. B) costs of production are increasing at a fixed rate per unit of output. C) level of total product stays constant. D) output per worker rises.
Assuming demand is inelastic, if a firm wants to increase its total revenue, it should raise price
Indicate whether the statement is true or false
Suppose local educators argue that teachers' salaries are too low. At the same time it is said that the school district received 750 applications for 5 new openings. Are salaries too low? Explain
What will be an ideal response?
Margin calls are more likely to happen when markets are:
A. irrational. B. crashing. C. booming. D. stable.