Because some monopolies could still earn an economic profit even if the firm is inefficient, corporate executives might waste resources by indulging in
a. long lunches
b. corporate jets
c. plush offices
d. None of the answers is correct.
e. All of the answers are correct.
E
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Stagflation refers to a situation in which the economy is experiencing:
A. high economic growth and high inflation. B. low economic growth and high inflation. C. high economic growth and low inflation. D. low economic growth and low inflation.
Between 1950 and 2012, U.S. real GDP per capita grew at an average annual rate of about:
A. 5.5 percent. B. 4.2 percent. C. 3.2 percent. D. 2.0 percent.
The demand curve for labor will shift whenever
A) the demand for the final product changes. B) the wage rate changes. C) the supply curve of labor shifts. D) the marginal factor cost changes.
Refer to the information provided in Table 2.1 below to answer the following question(s). Table 2.1?KrystalMarkWriting Poems812Writing TV Commercials24Refer to Table 2.1. For Mark, the opportunity cost of writing six TV commercials is ________ poems.
A. 2 B. 18 C. 24 D. an indeterminate number of