If labor is the only variable input, an increase in the quantity of labor:
a. does not have any effect on the quantity of output.
b. causes the output to increase initially at a diminishing rate and then at an increasing rate.
c. causes the output to increase at a constant rate till the last worker is hired.
d. causes the output to increase initially at an increasing rate and then at a decreasing rate.
e. causes the output to decrease at a constant rate till the last worker is hired.
d
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Based on research conducted on the productivity of Hispanic and non-Hispanic workers, an employer decides to hire non-Hispanic workers. This is an example of:
A) cultural discrimination. B) special interest group discrimination. C) statistical discrimination. D) taste-based discrimination.
Answer the following statements true (T) or false (F)
1) In the situation in which consumers have nonidentical demands in two-part pricing, the profit-maximizing user fee is equal to the marginal cost of use. 2) In the situation in which consumers have nonidentical demands in two-part pricing, a firm's profit is always increased if it adjusts the access fee and user fee to sell to all consumers. 3) In all-or-nothing offers, the products packaged together are all the same. 4) If Pasta Meals sells its pasta and pasta sauce in a package and sells the products individually, this is an example of pure bundling. 5) Commodity bundling can increase a firm's profit and lower their transaction costs.
Which of the following is true?
a. The production possibilities curve indicates that it will be impossible to expand total output with the passage of time. b. As long as resources are scarce, output cannot be increased. c. The size of the economic pie is fixed, and therefore, if one individual has more income, others must have less. d. Over time, the output of goods and services can be increased through human ingenuity and discovery of better ways of doing things.
Unemployment insurance is:
A. money that is paid by the government to people who are unemployed. B. offered by the government as a way to affect the level of seasonal unemployment. C. offered by companies as a way to affect the level of frictional unemployment. D. All of these are true.