A person who monitors the production process and evaluates the productivity of workers is:
A. an employee.
B. a self-proprietor.
C. a shareholder.
D. a manager.
Answer: D
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A monopolist firm may be more innovative than a competitive firm
a. True b. False Indicate whether the statement is true or false
When a group of workers forms a union, they introduce an element of
A) pure competition into the labor market. B) monopoly into the labor market. C) monopoly into the product market. D) monopsony into the product market.
An increase in the wage rate of steel workers will reduce the supply of steel.
Answer the following statement true (T) or false (F)
If Dr. Giltscalpel's gross revenue doubled when he doubled his surgical fees, the demand for his services within the relevant price range would be
A) indeterminate. B) perfectly elastic. C) perfectly inelastic. D) unit elastic. E) none of the above.