The Celler-Kefauver Act of 1950 amended the:
a. Sherman Act
b. Clayton Act.
c. Federal Trade Commission Act.
d. Wagner Act.
b
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If the cost of hiring workers increases but the marginal benefit remains unchanged, employers are likely to respond by hiring ________ at any given wage
A) more workers B) immigrant workers C) fewer workers D) teenaged workers
When there is a negative externality, the marginal private cost of production ________ the marginal social cost of production
A) eliminates B) is less than C) is equal to D) is greater than
If, at the firm's projected sales level, the marginal cost is $40, the average cost is $50 and the markup is 30 percent, then its selling price is
A) $40. B) $50. C) $52. D) $65.
Refer to the information provided in Figure 20.3 below to answer the question(s) that follow.
Figure 20.3Refer to Figure 20.3. The domestic price of shoes is $80. After trade the price of a pair of shoes is $60. This would cause the number of pairs of shoes produced domestically to
A. remain the same. B. fall to zero. C. decrease. D. increase.