Which of the following statements is true?
a. Minimum wage creates a labor deficit in a market
b. Minimum wage intends to increase the consumer surplus.
c. Minimum wage is a wage set below the equilibrium wage in order to create more job opportunities.
d. Minimum wage harms the unskilled workers between the age group 40 and 50.
e. Minimum wage harms the unskilled workers between the age group 16 and 19.
e
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A natural monopoly under rate of return regulation has an incentive to
A) pad its costs. B) produce more than the efficient quantity of output. C) charge a price equal to marginal cost. D) maximize consumer surplus.
In terms of foreign trade the United States can have a trade deficit, a trade surplus, or neither. Which scenario, ceteris paribus, results in the highest calculated U.S. aggregate demand? Which scenario, ceteris paribus, results in the lowest calculated U.S. aggregate demand? Explain your reasoning.
What will be an ideal response?
Supply describes how much of something producers:
A. want to offer for sale under certain circumstances, although they may not be willing to. B. are willing and able to offer for sale at varies prices under given circumstances. C. want to sell under certain circumstances, although they may not be able to. D. are willing and able to buy under certain circumstances.
What are types of firms that exemplify monopolistic competition?
What will be an ideal response?