Economists would largely motivate employees by appealing to their
A) compensation.
B) need for time off.
C) intrinsic motivation.
D) none of these choices.
A
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In the table above, country A is producing 4 units of X and 8 units of Y and country B is producing 4 units of X and 6 units of Y. The opportunity cost of producing more of
A) good X is the same for both countries. B) good Y is the same for both countries. C) good X is lower in country A. D) good Y is lower in country A.
What happens as the result of a surplus?
A) There is downward pressure on prices. B) There is upward pressure on prices. C) Consumers begin to view the good as an inferior good because it is too commonplace. D) Demand for the good increases.
Which type of cost does depend on a firm's output?
A. total cost B. variable cost C. marginal cost D. all of the above
Many biologic drug manufacturers are pushing for patent protection to be extended to 12 years before generics are allowed to be introduced to the market. This reflects which of the following barriers to entry?
A) control of a key resource B) network externalities C) entry blocked by government action D) economies of scale creating a natural monopoly