Which of the following is NOT an element of a seller's decision-making process in a perfectly competitive market?
A) The relationship between the inputs and outputs
B) The cost of the inputs
C) The price of the output
D) The number of buyers
D
You might also like to view...
If the supply of labor to a firm is perfectly elastic at the going wage rate established by the forces of supply and demand then
A) the firm is price taker. B) the firm can only hire additional units of labor by driving the wage rate up. C) the wage rate has been decreasing. D) full employment exists in the labor market.
Suppose a tax on sellers has been imposed in the graph shown. What is the total tax paid per unit of the good?
A. $16
B. $6
C. $10
D. $15
The potential money multiplier for the banking system in the above table is
A. 5. B. 1. C. 10. D. 9.
If the marginal propensity to consume equals 0.75, then a $100 increase in disposable income leads to a ________ increase in consumption.
A. $13.33 B. $75 C. $25 D. $133