Which of the following is more likely to be able to command a higher price for its products
a. A specialty frozen yogurt producer, with high quality product
b. A mall kiosk selling costume jewelry
c. A specialty toy store that allows customers to self-design teddy bears
d. Both A&C
d
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A perfectly competitive firm has a random marginal cost with a 50 percent chance of a high marginal cost of $10, a 30 percent chance of a marginal cost of $8, and a 20 percent chance of a low marginal cost of $5. What is the firm's expected marginal cost?
A) $7.80 B) $8.00 C) $9.20 D) $8.40
Structural unemployment is a special type of cyclical unemployment
a. True b. False Indicate whether the statement is true or false
The labor-force participation rate equals the percentage of the labor force that is employed
a. True b. False Indicate whether the statement is true or false
A firm's demand schedule for labor services
A. is independent of the demand for the firm's output. B. will not change if technology changes. C. depends on the amount of other inputs used by the firm. D. is not related to the price of the firm's output.