Following deregulation in the airline industry
a. small carriers have gone out of business but large carriers have not.
b. large carriers have gone out of business but small carriers have not.
c. both large carriers and small carriers have gone out of business.
d. neither large carriers nor small carriers have gone out of business.
c
You might also like to view...
Transaction costs include
A) costs of negotiating contracts with other firms. B) cost of enforcing contracts. C) the existence of asset-specificity. D) All of the above
Suppose that a firm has only one variable input, labor, and firm output is zero when labor is zero. When the firm hires 6 workers the firm produces 90 units of output. Fixed costs of production are $6 and the variable cost per unit of labor is $10 . The marginal product of the seventh unit of labor is 4 . Given this information, what is the average total cost of production when the firm hires 7
workers? a. $10.06 b. $9.64 c. 81 cents d. 70 cents
Phoenix furniture uses 12 workers, each working eight hours, to produce 192 rocking chairs. What is Phoenix's productivity?
a. 192 rocking chairs b. 24 rocking chairs per hour c. 2 rocking chairs per hour d. 2 hours per rocking chair
Consider the market demand and supply given by the following: Qd=50 - P and Qs = 2.5 + 1.5P.
a) What is the equilibrium price and quantity? b) If the government sets a price floor of $25, what is the surplus/shortage? If the government buys the surplus, what would be the cost to the government?