If the supply of labor to a firm is perfectly elastic at the going wage rate established by the forces of supply and demand then
A) the firm is price taker.
B) the firm can only hire additional units of labor by driving the wage rate up.
C) the wage rate has been decreasing.
D) full employment exists in the labor market.
A
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_____ improves exchangeability, and reduces the cost of obtaining information about a good and about the parties involved in the transaction
a. De-integration b. Outsourcing c. Vertical integration d. Standardization
The purchases made by the foreign sector are called __________; the purchases made by the household sector are called __________; the purchases made by the government sector are called __________; and the purchases made by the business sector are called investment
A) net exports; consumption; net interest B) net exports; domestic spending; government purchases C) net exports; consumption; government purchases D) exports; domestic spending; government product E) imports; consumption; government expenditures
According to the table below, at what level of output is marginal cost minimized?QFCVC01,0000201,000350501,000700901,0001,0501251,0001,4001451,0001,7501601,0002,100
A. 160 B. 90 C. 50 D. 125
If the average variable cost of the fifth hat is $50, then the total variable cost of five hats is
A. $10. B. $250. C. $1,800. D. indeterminate from this information.