With a human capital investment (such as the investment in going to college), the most important cost tends to be
A) foregone leisure.
B) books and equipment.
C) the opportunity cost of not working.
D) taxes.
C
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The figure above shows the market for fast food restaurant employees in a college town in a small nation to the East. The local Taco Bell pays its workers $12 an hour. This wage rate is
A) designed reduce the unemployment rate. B) an effort to increase the demand for labor. C) illegal because the equilibrium wage rate is $6 an hour. D) an efficiency wage aimed at reducing employee turnover. E) the actual equilibrium wage rate.
Which of the following statements is true of wages, educational attainment, and gender?
a. Male workers are compensated for attending college, while female workers generally are not. b. Female workers are compensated for attending college, while male workers generally are not. c. Both genders receive a higher wage for attending college. d. Neither gender receives a higher wage for attending college.
The duopoly price strategy provides ________ incentive to maintain cartel pricing as compared to the grim-trigger strategy.
A. a greater B. less of an C. the same D. The answer depends on the firms' average cost curves.
When there is only one buyer in a market, there is a
A) buyer's monopoly. B) monopoly. C) monopsony. D) buyer's cooperative.