The organization that unionized workers along industrial rather than craft lines was the
a. Chamber of Commerce
b. American Federation of Labor
c. National Labor Relations Board
d. Journeymen Stonecutter's Association
e. Congress of Industrial Organization
E
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Historical demand curves are always suspect because their demand curves are likely to have shifted over time.
Answer the following statement true (T) or false (F)
Price discrimination can increase both the monopolist's profits and society's welfare
a. True b. False Indicate whether the statement is true or false
Sally can make 8 cups of soup per hour or 20 crackers per hour. Harry can make 10 cups of soup per hour or 30 crackers per hour. Can Sally and Harry gain from trade? If so, what is the range of prices of crackers for soup at which they would both find trade advantageous?
If we move to the right along the upward-sloping labor supply curve, we observe that the cost of labor
A. Decreases due to the increasing opportunity cost. B. Decreases due to the decreasing opportunity cost. C. Increases due to the increasing opportunity cost. D. Increases due to the decreasing opportunity cost.