Immigration is an important
a. explanation for the failure of firms to operate on their labor-demand curves.
b. explanation for the failure of firms to operate on their output-supply curves.
c. source of shifts in labor demand.
d. source of shifts in labor supply.
d
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Table 10.1Refer to Table 10.1, which shows the relationship between the price that Gladys charges for a product and the quantity of that product that Gladys sells. Gladys' marginal revenue becomes negative starting with the production of which unit?
A. 2 B. 4 C. 6 D. None of these; marginal revenue is always positive or zero.
Barriers to entry might include all of the following EXCEPT
A. positive economic profits. B. government franchise. C. ownership of essential resources. D. patents and copyrights.
Refer to the information. If the price of product A is $0.50, the firm will realize:
Answer the question on the basis of the following information: Suppose 30 units of product A can be produced by employing just labor and capital in the four ways shown below. Assume the prices of labor and capital are $2 and $3 respectively.
A. an economic profit of $4.
B. an economic profit of $2.
C. an economic profit of $6.
D. a loss of $3.
McDonald's Big Macs. Production of this good is likely to fluctuate _______ fluctuations of real GDP during the business cycle.
Fill in the blank(s) with the appropriate word(s).