The Solo Coal Mine is the only employer in the small town of Way out there. The market supply of coal miners is Qs = 0.02W - 200 and Qd = 500 - 0.02W, where W is the annual wage of a coal miner and Q is the number of coal miners. What is the wage required to hire the profit maximizing number of workers?
A. $25,000
B. $50,000
C. $20,000
D. $15,000
D. $15,000
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To minimize the asymmetric information problem, the government is called on to require and enforce full disclosure of information
a. True b. False Indicate whether the statement is true or false
The art in scientific thinking is
a. finding the right problem to study. b. deciding which assumptions to make. c. the ability to make an abstract subject easy to understand. d. not something in which economists have to be skilled.
Which of the following statements is correct?
A. Slope is the ratio of the vertical change (the rise or fall) to the horizontal change (the run). B. A direct relationship is one in which two variables change in the opposite direction. C. An inverse relationship is one in which two variables change in same directions. D. An independent relationship is one in which two variables are upward sloping.
Borrowing to pay for long-lived capital expenditures makes sense as
A) the benefits are received in the current year so the burden of paying for them should be spread over many years. B) the benefits are received over many years so the burden of paying for them should be spread over many years. C) the benefits are received in the current year so the burden of paying for them should be paid in the current year. D) the benefits are received over many years so the burden of paying for them should be paid in the current year.