Owners of a parking lot are deciding whether or not to add more parking spaces to the lot. The owners should increase parking spaces as long as:
a. LRMR=LRMC
b. LRMR>LRMC
c. LRMR
b
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A group of firms that has entered into a collusive agreement to restrict output and increase prices and profits is called
A) a compliance. B) a cartel. C) an oligopoly. D) a duopoly.
Other things equal, a country's long-run aggregate supply will shift to the left when _____
a. the aggregate expenditure on education rises b. the productivity of labor rises c. the quantity of natural resources rises d. the mortality rate rises e. the amount of investment rises
Subjective probabilities
A. are often inaccurate. B. are seldom used in management decisions. C are usually identical to objective probabilities. D. All of the above
A share of stock indicates that the company owes money to the person owning the share.
Answer the following statement true (T) or false (F)