Suppose at the current level of labor used, MRP = $10 and MFC = $10. To maximize profits, the firm should
A. maintain the current level of labor.
B. shut down.
C. reduce the level of labor.
D. hire more labor.
Answer: A
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Venture capitalists
A. Are a critical link between entrepreneurial ideas and market reality. B. Provide entrepreneurial ideas. C. Share in the risks but not the rewards of entrepreneurial ideas. D. Are always willing to lend money to new businesses.
Based on the information shown in Exhibit 3, how much food can Calvin produce in one day using all of his resources?
a. 3-3/4 pounds
b. 3 pounds
c. 2-1/4 pounds
d. 3/4 pounds
Structural unemployment is unemployment caused by:
A. temporary changes in jobs. B. discrimination. C. the time required to match employers and workers. D. a mismatch between worker skills and employer requirements.
Upon graduation, Ellie had two job offers. The jobs were identical in every way with two exceptions. One job was located in San Diego, CA and offered an annual salary of $50,000. The other job was located in Omaha, NE and offered an annual salary of $60,000. The salary difference is due to
A. compensating differentials. B. the firm in California had a higher demand for workers than the firm in Nebraska. C. transfer payments. D. discrimination.