Which of the following addresses agency costs?
a. advertising for employee positions in as many outlets as possible
b. hiring only from job fairs
c. instituting longer work days
d. replacing closed offices with cubical office spaces
d
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List two reasons why a firm might experience diseconomies of scale
What will be an ideal response?
Price leadership:
A) has rarely occurred in U.S. history. B) is always illegal in the United States. C) is usually the result of a dominant firm in the industry. D) usually results in the smaller firms in the industry incurring economic losses.
Refer to Figure 22-2. Based on the per-worker production function above, if the economy raises capital per hour worked from $35,000 to $40,000, by how much will real GDP per hour worked increase?
A) $150 B) $1,850 C) $2,000 D) $5,000
_____ measures the percentage change in quantity demanded of a good caused by a given percentage change in the price of a related good
a. Income elasticity of demand b. Cross-price elasticity of demand c. Advertising elasticity of demand d. Price elasticity of demand e. Point elasticity