If a firm sells its output at a price greater than AC, it will earn economic profit
a. True
b. False
Indicate whether the statement is true or false
True
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A flat wage profile refers to
A) wage compression. B) backloaded compensation. C) an efficiency wage. D) deferred compensation.
You have probably used this good, and some use it everyday. It was invented by John Pemberton in 1886
a. Coca-Cola b. aspirin c. instant camera d. sliced bread e. waxed paper
Because a union is a form of monopoly, it must be concerned about the ________ slope of the demand curve for labor.
A. vertical B. downward C. horizontal D. upward
Refer to the data. Suppose quantity demanded increased by 12 units at each price, changing the equilibrium price in a direction and an amount for you to determine. Over that price range, supply is:
A. perfectly elastic.
B. perfectly inelastic.
C. elastic.
D. inelastic.