The demand for any factor of production in a competitive industry depends on
A. its productivity and the productivity of all other inputs.
B. the amount of the factor that is used and the amounts of all the other factors that are used.
C. its productivity and upon the value of its output in the marketplace.
D. the productivity of all the other inputs and how these inputs are valued in the marketplace.
Answer: C
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Government may make it possible
A) to create a network externality. B) to find 'winners' in the stock market. C) for a firm to become a monopoly. D) all of these choices.
Which statement is true?
A. Both the Taft-Hartley and Wagner Acts are viewed as pro-labor. B. Both the Taft-Hartley and Wagner Acts are viewed as anti-labor. C. The Taft-Hartley Act is viewed as pro-labor and the Wagner Act is viewed as anti-labor. D. The Taft-Hartley Act is viewed as anti-labor and the Wagner Act is viewed as pro-labor.
Diseconomies of scale are associated with:
A. improved team spirit. B. decreasing per-unit costs. C. monitoring costs. D. the short run.
If a positive permanent supply shock were to occur, the resulting equilibrium would be a:
A. higher level of output at lower prices. B. lower level of output and prices. C. higher level of output and prices. D. lower level of output at higher prices.