A firm uses labor and capital in its production process, and it faces competitive markets for its inputs and output. The firm's long-run labor demand curve
A) intersects with the short-run labor demand curve in several points.
B) is exactly identical to its short-run labor demand curve.
C) is steeper than its short-run labor demand curve.
D) is flatter than its short-run labor demand curve.
D
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A perfectly price-discriminating monopolist is able to
a. maximize profit and produce a socially-optimal level of output. b. maximize profit, but not produce a socially-optimal level of output. c. produce a socially-optimal level of output, but not maximize profit. d. exercise illegal preferences regarding the race and/or gender of its employees.
Recent research regarding increases in the Federal minimum wage shows that
A. unemployment is only slightly affected. B. the minimum wage has many benefits. C. it improves labor productivity. D. the unemployment rate rises.
For a single-price monopolist, marginal revenue falls faster than price (as output rises) because
A) the firm has no supply curve. B) in order to sell additional units, the price must be lowered on all units. C) the cost of producing extra units of output increases as production is increased. D) profits are maximized when marginal cost equals marginal revenue. E) none of the above — marginal revenue does not fall faster than price.
The most prestigious stock market in the world is the
A. New York Stock Exchange. B. London Stock Exchange. C. Tokyo Stock Exchange. D. Chicago Mercantile Exchange.