Economies of scale mean that Amazon has advantages in ______ over small, local merchants.
a. customer service and goodwill
b. cost savings in ordering, inventory, and checkout
c. employee satisfaction and retention
d. creativity and novelty
b. cost savings in ordering, inventory, and checkout
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As the price of a good rises, the consumer will experience
A) a desire to consume a different bundle. B) a decrease in utility. C) a downward or leftward movement on the indifference map. D) All of the above.
Suppose the federal government allows labor unions to act as the sole seller in labor markets, but the government collects a $1 per hour fee to cover unemployment insurance for each union worker
Assuming this fee is not so large that it forces the unions to disband, what is the impact of this fee on the equilibrium wage and employment level in the monopolized labor market? A) After-tax wages and employment decline. B) After-tax wages increase and employment declines. C) Employment increases and after-tax wages decline. D) No change in after-tax wages or employment levels.
one of the four main categories of spending identified by John Maynard Keynes is government purchases
a. true b. false
In a contestable market model of oligopoly, prices are determined by:
A. costs, barriers to entry, and barriers to exit. B. costs alone. C. costs and barriers to entry. D. costs and barriers to exit.