The demand for labor curve is identical to the:
A. marginal revenue curve.
B. marginal resource curve.
C. total revenue curve.
D. marginal revenue product curve.
Answer: D
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Who among the following faced an opportunity cost?
A) The fiancée B) The recently married bride C) The cheating spouse D) The divorcee E) All of the above.
Everything else remaining unchanged, if a new seller enters a market to compete with an existing monopoly that is enjoying economies of scale, it will lead to:
A) higher profits for both firms. B) higher profits for the existing firm. C) lower profits for the existing firm. D) higher market power for the existing firm.
Refer to Table 9-7. Fill in the following table with the opportunity costs of producing handbags and jackets for Cambodia and Thailand
Handbags Jackets Cambodia Thailand
You place $100 in a bank account that pays 8%. If you remove the interest you receive each year you can turn your stock into a flow of
A) $108 per year. B) $100 per year. C) $80 per year. D) $8 per year.