Marginal revenue for a price taker is
A) equal to price.
B) less than price.
C) more than price.
D) unrelated to price.
A
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Nonunion labor is a substitute for union labor, so when the minimum wage ________, the demand for union labor ________
A) rises; decreases B) decreases; increases C) decreases; decreases D) rises; increases E) rises; remains the same
Among the subjects covered in macroeconomics are the
A) unemployment rate for the entire labor force, and the causes of the increase in the overall price level. B) causes of the increase in the price of oil relative to other commodities. C) effects of low wages on the laborers' moral. D) causes of the change in the individual firms' profits.
Government intervention
a. provides incentives to conduct business in an illegal black market b. plays no role in generating wealth c. is the best way to eliminate poverty d. does not enforce property rights
The rule of reason refers to the interpretation of the courts that dominant firms should be broken up because of their:
a. market share dominance. b. illegal business practices. c. monopolistic behavior. d. All of these.