When market wages increase in a perfectly competitive market, then
A. the marginal factor cost increases.
B. the marginal factor cost decreases.
C. the marginal product decreases.
D. the marginal product increases.
Answer: A
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The used car market has a significant amount of adverse selection because
A) the seller knows more about the car than the buyer. B) the buyer can easily find out more about the car than the seller. C) buyers and sellers rarely have enough information. D) the transaction costs of the used car market are prohibitive.
Using the data in the above table, if exports = $1,150 billion and the private sector runs a surplus of $300 billion, the government sector will run
A) a surplus of $150 billion. B) a surplus of $450 billion. C) a deficit of $150 billion. D) a deficit of $450 billion.
Limit pricing is a strategy which is intended to deter entry into an industry
Indicate whether the statement is true or false
Define the process of queuing
What will be an ideal response?