Suppose the representative firm suddenly has less capital at its disposal. What happens to labor demand?
A) It increases.
B) It stays the same.
C) It decreases.
D) We cannot tell.
C
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If a cartel can earn a profit, it will increase production as long as
a. MR > MC b. MR > ATC c. MC > MR d. MR < AR e. MR > AVC
Real GDP equals nominal GDP
a. minus exports. b. corrected for changes in the price level. c. minus personal income taxes. d. minus retail sales taxes.
The movement of herds according to seasonal rhythms is called:
a. transhumance b. desert nomadism c. geo-agricultural revolution d. global nomadism
Refer to the information in Figure 16.5 below to answer the question(s) that follow.
?Figure 16.5Figure 16.5 shows the marginal benefits of emitting pollution for the only two chemical companies in an industry, Alpha Chemicals and Beta Chemicals. Before any tax on pollution emissions is imposed, each company views pollution as being free.Refer to Figure 16.5. Suppose that instead of a tax, the government uses standards to achieve the emission reductions, requiring that each company cut its original emissions in half rather than allowing each company to choose emissions based on their costs. Compared to the outcome under the tax, this common standard would
result in A. Alpha gaining less than Beta loses. B. Beta gaining less than Alpha loses. C. Alpha gaining more than Beta loses. D. Beta gaining more than Alpha loses.