If a firm sells a total of 100 shares of stock, then
a. the supply of, and demand for, those shares determine the price per share.
b. each share represents ownership of 1 percent of the firm.
c. the firm is engaging in equity finance.
d. All of the above are correct.
d
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________ dictates the lowest wage that firms may pay for labor
A) The black-market wage B) A maximum wage requirement C) A minimum wage law D) A price-ceiling wage
According to the "misperception effect" explanation of short-run aggregate supply, firms increase output as the price level rises because they mistake the increase in overall prices for an increase in the relative price of their own output
a. True b. False Indicate whether the statement is true or false
When a market consists of a few large firms and barriers to entry exist, it:
A. must be monopolistically competitive. B. is likely an oligopoly. C. is likely a monopoly. D. must be perfectly competitive.
________________ said, "Property is theft!"
Fill in the blank(s) with the appropriate word(s).