What conditions does the PPACA place on employers?
What will be an ideal response?
The act imposes an employer mandate that requires every firm with 50 or more employees to purchase health care for them or pay a fine of $2000 per employee. The purpose of this condition is to get employers to cover more employees. Firms with fewer than 50 employees are exempt from the mandate.
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In monopolistic competition, product differentiation gives the firms the power to set their prices
Indicate whether the statement is true or false
Critically analyze the following and explain whether you agree or disagree: a. Janet knows a lot of people who do not like Marmite®, a yeast extract that is used as a spread on toast
She says that Marmite is so unpopular that Unilever, the company that manufactures Marmite®, cannot possibly have any monopoly power. b. Edgar says that a single firm in the wind power industry is unlikely to have a significant degree of monopoly power for an extended period of time. Since the cost of producing an additional unit of wind energy is so low, a large number of firms can enter the market and compete away economic profits.
Contrary to Populist views, the lending practices during industrialization provided ample opportunities for firms and agriculturalists to invest, grow and develop
Indicate whether the statement is true or false
A decrease in price:
A. causes a decrease in total revenue due to the quantity effect. B. causes an increase in total revenue due to the price effect. C. does not cause a quantity effect when demand is perfectly inelastic. D. does not change quantity demanded if demand is elastic.