Suppose there are 100 identical firms producing package delivery services. One of the firms finds that when it has to pay a wage rate of $7, it hires 20 delivery people. The firm charges an average price of $10 to deliver a package. From this information, we know that the package delivery industry is hiring a total of:
a. 100 workers.
b. 200 workers.
c. 700 workers.
d. 2,000 workers.
e. 10,000 workers.
d
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Briefly define a tariff and a quota. Do any of these methods restrict trade without harming domestic consumers?
What will be an ideal response?
Marking to market refers to
A) the determination of the prices of options contracts by the interaction of demand and supply. B) the determination of the prices of futures contracts by the interaction of demand and supply. C) the settlement of gains and losses on futures contracts each day. D) the settlement of gains and losses on forward contracts each day.
The benefits received principle means those with the least ability to pay should be the ones to receive the benefits
a. True b. False Indicate whether the statement is true or false
When country X imports goods from country Y,
A. only country X benefits. B. only country Y benefits. C. both country X and country Y benefit. D. neither country X nor country Y benefit.