Winner-take-all labor markets are commonly found in
a. sports and entertainment industries
b. unionized industries
c. the government sector
d. the legal services industry
e. service industries in general
A
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The expected inflation rate is the inflation rate that people forecast and use to help set
A) the money wage rate. B) the real wage rate. C) real GDP. D) the natural rate of unemployment. E) the price level.
With respect to the Ford Pinto, comparing the cost of the modification to the fuel tank with the lives the modification would save was the best way Ford could save the greatest number of lives at the lowest possible cost
Indicate whether the statement is true or false
Use the figure above to answer this question. Consider a perfectly competitive market experiencing good times
Figure ________ shows a firm maximizing profit in the short run because it produces ________ units and makes an economic profit of ________. A) A; 100; $2 per unit B) A; 90; $3 per unit C) B; 100; $0 per unit D) C; 100; $3 per unit E) C; 110; $2 per unit
Which of the following best explains why marginal revenue for a monopolist is less than the sales price? a. To sell more units, the monopolist must reduce price on all units sold
b. As the monopolist expands output, the average total cost of production declines. c. The monopolist charges each consumer the highest possible price. d. When a firm has a monopoly, consumers have no choice other than to pay the price set by the monopolist.