There is evidence that __________ were the main lobbyists behind passage of the Factory Acts which put restrictions on women and children working in early 19th century England
A) male workers
B) female workers
C) child-care advocates
D) factory owners
A
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In the dominant firm model, the fringe firms
A) are price takers. B) maximize profit by equating average revenue and average cost. C) determine their price and output before the dominant firm determines its price and output. D) all of the above E) none of the above
This graph depicts the demand for a normal good.
A shift from B to A in the graph shown might be caused by:
A. a decrease in the good's price.
B. an increase in the good's price.
C. a decrease in the price of a substitute.
D. an increase in the price of a substitute.
In what setting would the efficiency wage model best apply?
a. a market research firm in Italy b. a restaurant group in China c. a consumer electronics retail store in Indonesia d. a bicycle parts manufacturing plant in the United States
Whenever the absolute value of the price elasticity of demand is greater than 1, but less than infinite
A) demand is inelastic. B) demand is unit elastic. C) demand is elastic. D) demand is perfectly elastic.