How many U.S. labor unions have at least 1.3 million members?
A. 0
B. 2
C. 6
D. 9
C. 6
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Consumer surplus is the:
a. amount by which the quantity supplied of a good exceeds the quantity demanded of a good. b. measure of consumes' willingness to buy a good plus the price of the good. c. measure of how much consumers value a good. d. amount consumers are willing to pay for a good minus the amount the consumers actually pays for it.
The reason why weaker firms accept price leadership is that they
a. maximize profit that way b. get an equal share of the market c. can collude to eventually challenge the dominant firm d. are protected from price competition e. can lower their prices to increase market share without upsetting the price leader
The government places a price control on navel oranges, saying that stores cannot charge more than $1 per pound. Considering this, which of the following would be the most likely result?
a. grocery stores having crates of rotting navel oranges b. grocery stores running out of navel oranges c. grocery stores selling the usual amount of navel oranges d. grocery stores giving away navel oranges to charities
Exhibit 1A-8 Straight line relationship
According to the Exhibit 1A-8, the relationship between the price and quantity purchased of pizza is:
A. direct. B. inverse. C. complex. D. independent.