High Tech, Inc. produces plastic chairs that sell for $10 each. The following table provides information about how many plastic chairs can be produced per hour. Number of WorkersChairs Produced Per Hour00110218324428530For simplicity, assume that labor is the only input. How many workers will be hired if the hourly wage for workers is $70?
A. 3
B. 4
C. 1
D. 2
Answer: D
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If you thought the share price of a stock was going to fall, would you be more likely to buy a call option or a put option?
A. a call option B. a put option C. a call option and a put option D. There is not enough information given to answer this question.
By promoting its brand name heavily, the monopolistically competitive firm
A) earns more profit in the long run. B) signals its long-term intention to stay in the industry. C) signals its intention to leave the industry. D) guarantees a short run profit.
Joanne left her last? job, in which she was earning? $50,000, in order to form her own consulting business. Her revenues for the first year of consulting were? $210,000. During that? year, she hired two assistants for? $25,000 each and spent? $25,000 on office equipment. In? addition, she incurred? $75,000 in miscellaneous expenses. Her accounting profit that first year was
A) $10,000. B) $60,000. C) $210,000. D) $50,000.
Which of the following points out that even if most workers were hypothetically willing to see a decline in their own wages in bad economic times as long as everyone else also experiences such a decline, there is no obvious way for a decentralized economy to implement such a plan?
a. efficiency wage theory b. relative wage coordination argument c. adverse selection of wage cuts d. insider-outsider model