Which of the following is an impact of the restriction on immigration on the domestic firms?
a. The domestic firms would produce more and reap greater profits.
b. The domestic firms would hire more unskilled laborers at lower wages.
c. The domestic firms would charge low prices for their products.
d. The domestic firms would have to pay higher wages and make less profit.
e. The domestic firms would make above normal profits in the long run.
d
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Use the above figure. If a commission regulates the above monopoly using marginal cost pricing, then the industry's output will be ________ and the product's price will be ________
A) Q2; P1 B) Q2; P3 C) Q3; P2 D) Q4; P1
Use the above figure. The profit-maximizing output and price is
A. 600 and $16, respectively. B. 600 and $10, respectively. C. 800 and $10, respectively. D. 600 and $8, respectively.
The higher the rate of unemployment:
A. The larger is the GDP gap B. The smaller is the GDP gap C. The higher is the level of actual GDP D. The lower is the level of potential GDP
A tax on sellers reduces the size of a market
a. True b. False Indicate whether the statement is true or false