A government regulation making it very difficult to fire workers will have what effect in the labor market?
a. Demand for workers will decrease.
b. The number of people hired will increase.
c. There will be no effect on the labor market.
d. Companies will fire more people.
a. Demand for workers will decrease.
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Price wars are ________ likely to occur when the industry is ________
A) more; a monopoly. B) more; an oligopoly. C) more; perfect competition. D) equally; monopoly, oligopoly, and perfect competition.
Suppose that in a computer factory, if there is 1 worker, 80 computers are produced per week. If there are 2 workers, 150 computers are produced per week. If there are 3 workers, 200 computers are produced per week
Given this information, the marginal product of the third worker is A) 210 computers per week. B) 70 computers per week. C) 60 computers per week. D) 50 computers per week.
A consumer values a car at $30,000 and a producer values the same car at $20,000 . If the transaction is completed at $24,000 . the transaction will generate:
a. No surplus b. $4,000 worth of seller surplus and unknown amount of buyer surplus c. $6,000 worth of buyer surplus and $4,000 of seller surplus d. $6,000 worth of buyer surplus and unknown amount of seller surplus
To maximize profits, a monopolist that engages in price discrimination must allocate output in such a way as to make identical the ____ in all markets
a. ratio of price to marginal cost b. ratio of marginal cost to marginal utility c. ratio of price to elasticity d. marginal revenue e. none of the above