Skill-biased technological has different effects on the marginal products of ________ workers and ________ workers.
A. higher-skilled; lower-skilled
B. government; private-sector
C. male; female
D. union; nonunion
Answer: A
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Fran runs a doughnut shop in a tiny 3-person town. The table below shows the quantity demand by the three townspeople at various prices.Price PerDoughnutQuantity Demandedby AlQuantity Demandedby BettyQuantity Demandedby Carol10 cents104625 cents92535 cents71550 cents504When the price of a doughnut is 25 cents, what is the market demand for doughnuts?
A. 13 doughnuts B. 16 doughnuts C. 20 doughnuts D. 9 doughnuts
A firm in a monopolistically competitive market can earn both short-run and long-run profits
a. True b. False Indicate whether the statement is true or false
When a particular product has numerous but imperfect substitutes, the demand for that product will tend to be
A) inelastic. B) elastic. C) unitary. D) perfectly elastic.
The return to any factor of production that is in fixed supply is called
A. pure rent. B. marginal product. C. demand. D. economic profit.