What is the most probable reason why garbage men have higher wages than nurses?
a. marketplace discrimination
b. active unionization in the garbage collection field
c. higher demand for garbage men than nurses
d. the nonmonetary attractiveness of garbage collection causing fewer people to want to be garbage men
d
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Joe is the owner of the 7-11 Mini Mart, Sam is the owner of the SuperAmerica Mini Mart, and together they are the only two gas stations in town. Currently, they both charge $3 per gallon, and each earns a profit of $1,000. If Joe cuts his price to $2.90 and Sam continues to charge $3, then Joe's profit will be $1,350, and Sam's profit will be $500. Similarly, if Sam cuts his price to $2.90 and Joe continues to charge $3, then Sam's profit will be $1,350, and Joe's profit will be $500. If Sam and Joe both cut their price to $2.90, then they will each earn a profit of $900. You may find it easier to answer the following questions if you fill in the payoff matrix below. 
width="383" />For Joe, keeping his price at $3 per gallon is a: A. profit-maximizing strategy. B. dominated strategy. C. revenue-maximizing strategy. D. dominant strategy.
The above figure shows a housing market with a rent ceiling equal to $1,000. In this figure, what area is equal to the resources lost due to search?
A) area A B) area B C) area C D) area D E) area E
A "kinked" demand curve reflects a tendency on the part of an oligopolist to:
a. follow price increases but not price reductions. b. following price reductions but not price increases. c. be unconcerned with rivals' behavior. d. None of these.
Because resources are scarce, if society produces more of one commodity, it has to sacrifice some amount of another commodity. The amount sacrificed is
a. a normative problem b. the out-of-pocket cost c. the opportunity cost d. the lost profit e. the total factor productivity