If workers in one part of the labor market unionize, then all else equal, we would expect the wages of unionized workers to ________, and the wages of nonunionized workers to ________.
A. rise; fall
B. remain unchanged; fall
C. rise; remain unchanged
D. fall; remain the same
Answer: A
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If marginal utility is positive but diminishing, then total utility must be ________ as consumption of the good increases
A) decreasing B) positive and rising at an increasing rate C) positive and rising at a decreasing rate D) positive and rising at any rate
Suppose labor and capital are the only two factors used by a firm to produce pencils. Which of the following statements is true of the average variable costs of this firm?
a. The average variable cost of this firm will be equal to the ratio of the cost of capital and the quantity of output produced by the firm. b. The average variable cost of this firm will be equal to the ratio of the total cost of production and the quantity of output produced by the firm. c. The average variable cost of this firm will be equal to the ratio of wages paid to the workers and the quantity of output produced by the firm. d. The average variable cost of this firm will be equal to the ratio of the quantity of output produced by the firm and the wages paid to the workers.
A rise in the price level because of an increase in the money wage rate
What will be an ideal response?
What is the type of companies that provide services by linking individuals to others with similar interests or to companies that sell certain products?
A) not-for-profit firms B) government agencies C) platform firms D) non-transaction firms