In Figure 45.2, at the one-employer "company town solution," the wage paid to workers will be 
Figure 45.2
A. W2.
B. W*.
C. W1.
D. an undetermined point between W1 and W2.
Answer: A
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Anna owns a dog grooming salon in Brunswick, Georgia. The above table has Anna's total product schedule. Anna pays each worker $300 per week and she pays rent of $600 a week for her salon. These are her only costs
When Anna has a staff of 6 workers, her average fixed cost equals A) $600. B) $2.50. C) $7.50. D) $10.00. E) $6.00.
Suppose a country had $2.4 billion of net exports and bought $4.8 billion of goods and services from foreign countries. This country would have
What will be an ideal response?
When using synthetic cohort analysis, the recent substantial increases in the minimum wage in Seattle led to
A. hours of work falling by about 10% and the number of low-wage jobs falling by about 5%. B. hours of working falling by about 10% for the average worker but no change in the number of low-wage jobs. C. no identifiable changes in the labor market for low-wage workers. D. hours of work not changing and a very slight decrease in the number of low-wage jobs. E. an increase in both hours of work and the number of low-wage jobs.
Profit is equal to
A. total revenue minus total cost. B. total revenue divided by total cost. C. total revenue divided by marginal revenue. D. marginal revenue minus marginal cost.