Refer to the table shown. The firm would definitely not hire:Number of workersTotal output142103184285356417458489501049
A. 9 workers.
B. 5 workers.
C. 10 workers.
D. 7 workers.
Answer: C
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Avital and Joshua each have their own business selling lemonade in front of their houses. When they each charge 25 cents per glass, their total revenues are equal. However, when they each charge 40 cents per glass, Avital's revenues are bigger than Joshua's revenues. This is because
a. Joshua faces a more inelastic demand curve b. Avital faces a more elastic demand curve c. Joshua faces a more elastic demand curve d. Avital faces a less inelastic demand curve e. there is a market failure
In the prisoners' dilemma game, one prisoner is always better off confessing, no matter what the other prisoner does
a. True b. False Indicate whether the statement is true or false
If the economy were at full employment and is producing at point Y,
A. the unemployment rate would increase.
B. the unemployment rate would decrease.
C. the production possibilities frontier would have shifted inward.
D. the production possibilities frontier would have shifted outward.
Unions contribute to
a. frictional unemployment but not the natural rate of unemployment. b. the natural rate of unemployment but not frictional unemployment. c. both frictional unemployment and the natural rate of unemployment. d. neither frictional unemployment nor the natural rate of unemployment.