As a result of a war in the country of Omega, refugees flee to the country of Alpha to seek employment. Holding other factors constant, the influx of refugees will ________ the real wage in Alpha and ________ employment in Alpha.
A. decrease; decrease
B. decrease; increase
C. increase; increase
D. increase; decrease
Answer: B
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Patents are a source of:
A) legal market power. B) natural market power. C) regulated market power. D) firm-biased market power.
What do economists mean when they characterize households and firms as forward looking?
What will be an ideal response?
Suppose a manager is deciding whether or not to purchase a piece of equipment to make an input internally and has completed the majority of the net present value (NPV) calculations. The manager has correctly calculated the NPV to be equal to: NPV = ($1.052 × Q) - $250,000, where Q is the annual quantity of the input the firm needs. In order for the NPV to be positive, the firm needs at least
________ units of the input each year. A) 115,960 B) 259,600 C) 237,643 D) 220,890
Exhibit 9-4 Demand and cost curves for a monopolist
?
As shown in Exhibit 9-4, in order to maximize its profit (or minimize its loss), how much output should the monopoly produce?
A. 2 units per hour. B. 4 units per hour. C. 6 units per hour. D. 8 units per hour.