A firm's demand for labor is
A. its MRP schedule.
B. determined by the going wage rate.
C. shaped mainly by the supply of labor.
A. its MRP schedule.
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Which of the following least resembles a case of statistical discrimination?
A) Alphonso prefers not to hire anyone over the age of 55 because they tend to not have the technical computer skills he believes are necessary for his employees. B) Juliana hires only what she considers fit, healthy employees because she read that overweight employees miss more days of work due to health-related issues than do employees of average weight. C) Colleen, who is 6'2" in height, dislikes people under 6 feet tall and therefore only hires people who are at least as tall as she is. D) Tyrone believes that the Dutch have the best work ethic of all nationalities and therefore will hire someone of Dutch heritage over someone of any other nationality.
Refer to the table below. What is Crunchy Fruits total marginal cost to produce 10,500 units
Crunchy Fruits makes dried fruit snacks. Crunchy Fruits has a multi-plant firm with two production facilities. The table above summarizes the marginal cost of production at the individual plants and the corresponding quantity produced at the individual plants.
A) $.075
B) $2.25
C) $1.75
D) $1.0
The long run is a period of time:
a. that is too short to change the size of a firm's plant. b. that is long enough to permit changes in all the firm's inputs, both fixed and variable. c. in which production occurs beyond one year. d. in which production occurs beyond five years.
An important similarity between a monopolistically competitive firm and a purely competitive firm is that:
A. both face perfectly elastic demand schedules. B. economic profit tends toward zero for both. C. both realize productive efficiency. D. both realize allocative efficiency.