An increase in product price implies that
A) the firm's marginal factor cost will increase.
B) the wage rate the firm pays will increase.
C) the firm's demand for labor increases.
D) the firm's demand for labor decreases.
C
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According to your authors, which action below clearly restricts competition?
A) A large firm raises its price. B) A large firm lowers its price. C) Government deregulates an industry. D) Antitrust legislation restricting other suppliers from entering into a market.
The table above gives the demand for a monopolist's output. Between which two quantities is marginal revenue equal to 0?
A) 4 and 5 B) 3 and 4 C) 2 and 3 D) 1 and 2
A decline in bank lending has the most significant effect on
A) small businesses. B) large businesses. C) state governments. D) federal government.
Initially a firm pays a wage and gets an output per worker which are given index numbers of 1.00. Five possible 3 percent increases in the wage and the accompanying output per worker are as follows:
1.03 and 1.09, 1.06 and 1.17, 1.09 and 1.24, 1.13 and 1.29, 1.16 and 1.31. What is the efficiency wage? A) 1.03 B) 1.06 C) 1.09 D) 1.13 E) 1.16