Refer to the information provided in Figure 10.3 below to answer the question(s) that follow. 
Figure 10.3 Refer to Figure 10.3. The market wage is initially W1 and the firm is initially at Point B. Labor supply increases from S1 to S0. If the firm does not change the amount of capital it employs, the firm will move to Point ________ to maximize profits.
A. A
B. C
C. E
D. F
Answer: A
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What is the distinction between external and internal economies and diseconomies of scale in an industry?
What will be an ideal response?
When firms analyze the relationship between their level of production and their costs they separate the time period involved into
A) a fixed period and a variable period. B) morning and evening. C) the short run and the long run. D) 6 months or less; 6 months to 1 year; more than 1 year.
If a taxpayer who qualifies for the EITC receives a credit larger than the amount of taxes due, then ____
a. they loose that portion of the credit b. they are allowed to apply it towards future tax liabilities c. it is refunded at a 50 percent rate d. it is refunded at a 100 percent rate
The cash that is counted as part of M1 does not include vault cash
a. True b. False