If the opportunity cost of capital is below the rate of return to capital in the perfectly competitive beauty salon industry,
a. resources will flow into the industry.
b. beauty salon owners must be earning negative economic profit.
c. the beauty salon industry cannot be in long-run equilibrium.
d. beauty salon owners must be earning negative marginal revenue at their current levels of output.
a
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In the market for labor, the monopsonist is the sole:
A. seller and can push wages down, below the competitive wage. B. buyer and can keep wages up, above the competitive wage. C. buyer and can push wages down, below the competitive wage. D. seller and can keep wages up, above the competitive wage.
A recent outbreak of hepatitis was linked to a national fast-food restaurant chain. This is an example of a case in which
a. brand name identity increases the effectiveness of markets. b. brand name identity can be detrimental to the profitability of a firm. c. advertising is ineffective in salvaging perceptions of product quality. d. advertising cannot be used to establish brand loyalty.
Which of the following is graphed as a horizontal line across levels of real GDP in the aggregate expenditures model?
A. the saving schedule B. the investment schedule C. the investment demand curve D. the consumption schedule
Student absenteeism is a problem facing education in the developing world.
Answer the following statement true (T) or false (F)