For any competitive labor market, changes that decrease the number of workers will:
A. decrease the labor supply and shift the supply curve left.
B. increase the labor supply and shift the supply curve right.
C. decrease the labor supply and shift the supply curve right.
D. increase the labor supply and shift the supply curve left.
A. decrease the labor supply and shift the supply curve left.
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The main rationale for government regulatory functions is
A) to regulate for-profit institutions. B) to make sure that firms are maximizing profits. C) to expand the scope of the government. D) to protect consumer interests.
In the problem of double marginalization, the resulting price is ______than if the manufacturer were to sell directly to the consumer
a. Higher b. Lower c. The same d. None of the above
Depreciation must be subtracted from the calculation of gross domestic product
a. True b. False Indicate whether the statement is true or false
According to the text, which of the following is a principal reason why firms merge?
a. to form a cartel b. to exercise greater market control c. to increase their product differentiation d. to decrease their product differentiation e. to become a monopoly