The Solo Coal Mine is the only employer in the small town of Way out there. The market supply of coal miners is Qs = 0.02W - 400, where W is the annual wage of a coal miner and Q is the number of people who would accept employment as a coal miner. What is the coal mine's marginal expenditure when it hires 150 coal miners?
A. $35,000
B. $20,000
C. $10,000
D. $5,000
A. $35,000
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When the price of insulin is $10, consumers demand 100 units; when the price is $15, consumers demand 100 units; and when the price is $20, consumers demand 100 units. Based on this information, the demand for insulin is:
A. perfectly inelastic B. elastic C. unit elastic D. perfectly elastic
If an employer cannot distinguish the ability of workers, a separating equilibrium will result
Indicate whether the statement is true or false
Is it possible for mandatory seatbelt laws to increase vehicle fatalities?
A) Yes, if the number of accidents increases by a greater percentage than the number of deaths per accident decreases. B) No, because wearing seatbelts decreases the number of deaths per accident. C) No, because wearing seatbelts decreases the number of accidents. D) There is not enough information to answer the question.
An example of a way employers can minimize moral hazard is to:
A. monitor employees' computer activity. B. videotape the workplace. C. offer bonuses for consistent productivity. D. All of these are ways to minimize moral hazard.