A horizontal line has a slope of 0.
Answer the following statement true (T) or false (F)
True
You might also like to view...
Information that returns to the system is known as:
a. Genomes b. E-innovation c. Listening d. Feedback
Firm A and B are producers in the same perfectly competitive industry. If Firm A earns a marginal revenue of $17,
a. it earns an average revenue less than $17 b. Firm B earns an average revenue of $17 c. Firm B will try to charge $16 per unit d. it earns an average revenue greater than $17 e. Firm B earns an average revenue greater than $17
Which of the following is not correct?
a. An organized withdrawal of labor from a firm by a union is called a strike. b. The power of a union comes from its ability to strike if the union and the firm do not agree on the terms of employment. c. Economists who study the effects of unions typically find that union workers earn about 25 to 35 percent more than similar workers who do not belong to unions. d. Workers in unions reap the benefit of collective bargaining, while workers not in unions bear some of the cost.
Which of the following is a possible outcome of setting a legal maximum rental rate below the market clearing rental rate?
A. a surplus of rental housing B. a decrease in the quantity of rental housing demanded C. a black market in rental housing D. an increase in the quantity of rental housing supplied