According to the public choice theory, voters who choose to remain uninformed about the issues are behaving irrationally
a. True
b. False
Indicate whether the statement is true or false
False
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Which of the following is true?
A. In Bertrand oligopoly each firm believes that its rivals will hold their output constant if it changes its output. B. In oligopoly a change in marginal cost never has an effect on output or price. C. In Cournot oligopoly firms produce an identical product at a constant marginal cost and engage in price competition. D. None of the answers is correct.
Recall the Application about the opportunity cost of an entrepreneur to answer the following question(s).According to this Application, which of the following is currently a popular way to earn an income?
A. renting out your home through Airbnb B. selling your kidneys C. driving your car through Uber D. cleaning other people's homes
Microeconomics is the branch of economics that deals with which of the following topics?
D. A and C A. The behavior of individual firms and investors E. B and C B. Unemployment and interest rates C. The behavior of individual consumers
Which type of collective bargaining agreement requires workers to be union members prior to being considered for employment?
A) right-to-work B) union shop C) open shop D) closed shop