Professional underwater divers are known to have high wages and work an average of only 20 hours per week. Which of the following would push the divers' wages higher?
a. The job is simple.
b. The job is fun.
c. The job is very dangerous.
d. The job does not require specialized training.
c
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A rightward shift of a demand curve represents a decrease in demand
a. True b. False
The entry of an additional firm into a market shifts the demand curve for the original firm to the left.
Answer the following statement true (T) or false (F)
Suppose the cost of producing two goods, x and y, can be represented as C = ax + by + cxy. If there are diseconomies of scope, then which of the following must be TRUE?
A) a = b B) a + b = -c C) c > 0 D) c < 0
The short-run average total cost curve eventually turns upward to form a U shape because: a. of diminishing marginal cost
b. of increasing average fixed cost. c. all factors can be varied in the long run. d. of diminishing marginal productivity.