The shape of the productivity curve reflects the
A) effects of capital accumulation.
B) effects of technological progress.
C) change in labor productivity as human capital increases.
D) law of diminishing marginal returns.
E) effects of population growth.
D
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Refer to Scenario 12.3. What will be the price of this new drink in the long run if the firms in the industry collude with one another to maximize joint profit?
A) $3 B) $9 C) $12 D) $16.50 E) none of the above
During what period did members of labor unions comprise the largest share of the labor force?
a. 1840-1860. b. 1875-1895. c. 1920-1940. d. 1950-1970. e. 1980-2000.
Figure 7-7
In Figure 7-7 at 100 units, FC equals
a.
1,000.
b.
1,800.
c.
800.
d.
80.
The Sherman Antitrust Act of 1890 prohibited
A) export tariffs. B) attempts to restrain trade. C) all existing monopolies. D) interstate commerce.