A pretzel-stand owner in Chicago hires workers to make hot pretzels and sell them to customers. If the firm is competitive in both the market for pretzels and in the market for pretzel-makers, then it has
a. some control over both the price of pretzels and the wage it pays to its workers.
b. no control over the price of pretzels but some control over the wage it pays to its workers.
c. some control over the price of pretzels but no control over the wage it pays to its workers.
d. no control over either the price of pretzels or the wage it pays to its workers.
d
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The table below shows the utility schedule for a consumer of candy bars. Candy Bars ConsumedTotal Utility001529312414515615713Marginal utility becomes negative with the consumption of the
A. sixth candy bar. B. seventh candy bar. C. fifth candy bar. D. second candy bar.
An increase in the interest rates in a country:
A) reduces net exports. B) does not affect net exports. C) increases net exports. D) results in a an outflow of capital from the country.
The demand curve shown in the figure above is ________ over the price range from $0.90 to $1.10 per pack
A) perfectly elastic B) perfectly inelastic C) unit elastic D) elastic but not perfectly elastic E) inelastic but not perfectly inelastic
Which of the following statements about stock market brokers and dealers is TRUE?
A) Brokers earn commissions from trading stocks but dealers try to profit from trading stocks. B) Brokers try to profit from trading stocks but dealers earn commissions from trading stocks. C) Both brokers and dealers earn commissions from trading stocks. D) Both brokers and dealers try to profit from trading stocks.