Refer to Table 17-1. The marginal product of the fourth unit of labor is
A) 300. B) 75. C) 60. D) 15.
C
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If neither firm has a dominant strategy, a Nash equilibrium cannot exist
Indicate whether the statement is true or false
Which of the following statements presents inaccurate information about the early U.S. labor movement?
a. Courts in the early 19th century often found unions guilty of conspiracy. b. Unskilled factory workers were the primary beneficiaries of early labor gains. c. In the 1820s and 1830s, small craft societies began to coalesce to form larger unions. d. Early unions experimented with collective bargaining, strikes and closed shops.
An market in which the Herfindahl-Hirschman Index (HHI) is 2,500 is considered to be
A) an oligopoly. B) monopolistically competitive. C) a monopoly. D) perfectly competitive.
Refer to Figure 11-1. Suppose the per-worker production function in the figure above represents the production function for the U.S. economy
If the United States decided to double its support of university research, this would cause a movement from A) B to A. B) B to C. C) A to B. D) D to C.