A baseball player who has signed a long-term contract with his club and then constantly says he is injured and cannot play is an example of ________
A) the principal-agent problem
B) marginal returns to work
C) the law of diminishing returns
D) inefficient hiring practices
A
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Economic inefficiency of a monopoly is indicated by
A) P = ATCmin. B) P > MR. C) P > MC. D) MR = MC.
Suppose that when price is $10, quantity supplied is 20 . When price is $6, quantity supplied is 12 units. The price elasticity of supply is:
a. 0.5. b. 0.8. c. 1.0. d. 1.5. e. 2.0.
The three noteworthy features of corporations' legal status include all of these except:
a. they are taxed b. special limits are placed on the losses that may be incurred by those who invest incorporations c. the corporation is a distinct entity separate from its owners d. they may invest in the stock market and acquire financing
According to Marx, reason(s) for the inevitable collapse of capitalism is (are)
a. under production b. a lower capita labor ratio c. rising profits d. class conflict e. increasing surplus value