Some people argue that the three main television networks all have similar programming. If true, this observation might best be explained by the:
A. paradox of voting.
B. median-voter model.
C. law of diminishing marginal utility.
D. ability-to-pay principle.
Answer: B
You might also like to view...
Rachel usually takes long coffee breaks and works less whenever her boss is out of town for business
However, she started taking shorter breaks when the Human Resource Manager at her company announced that each employee will henceforth be paid a performance-based incentive every month. What explains her behavior before and after the announcement of the new policy?
Explain why the real interest rate is the opportunity cost of loanable funds
What will be an ideal response?
Profit maximization implies that firms will want to ________
A) accumulate capital while the MPK is greater than the real wage B) accumulate capital while the MPK is greater than the rental price of capital C) accumulate labor while the MPK is greater than the rental price of capital D) accumulate labor while the MPK is greater than the real wage E) none of the above
Which of the following do economists believe is the main cause of the growing wage gap between high-skilled and low-skilled workers?
a. employer-sponsored retraining programs b. reductions in unemployment benefits c. antiunion legislation d. advances in technology