If the real wage is equal to 7 widgets, and only an integer number of workers can be hired, the Widget company should hire
A) 2 workers.
B) 3 workers.
C) 4 workers.
D) 5 workers.
B
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The benevolent social planner would like to see people take
A) all possible precautions. B) all cost-justified precautions. C) only cost-justified precautions. D) both b and c
Refer to the above diagram. Rent controls are best illustrated by:
A. quantity E. B. price A. C. price B. D. price C.
Which of the following is an argument in support of market power?
A.) Marginal cost pricing. B.) Economies of scale. C.) Price fixing. D.) Predatory pricing.
People with savings often deposit their funds in a commercial bank, rather than investing them directly with business enterprises, in order to
A. earn the highest possible return for taking on the riskiest investments. B. avoid the problems associated with asymmetric information. C. avoid the problems associated with financial intermediation. D. All of these are correct.