The more difficult it is for a firm to adjust its labor force in the face of economic fluctuation, the more likely the firm is to hire new workers
a. True
b. False
Indicate whether the statement is true or false
False
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Always There Wireless is wireless monopolist in a rural area. There are 200 customers, each of whom has a monthly demand curve for wireless minutes of Qd = 200 - 100P, where P is the per-minute price in dollars and Q is the number of wireless minutes. The marginal cost of providing the wireless service is $0.25 per minute. If Always There charges $0.50 per minute and the largest fixed fee that it can at that price, what is the difference in total profit compared to when it charges $0.25 per minute and the largest fixed fee that it can at that price?
A. Profit is the same in both cases, and it is equal to zero. B. Profit is the same in both cases, and it is negative. C. Profit is $626 higher at a price of $0.50. D. Profit is $626 higher at a price of $0.25.
During an economic recession,
A) the demand and supply curves for loanable funds both shift to the right and the equilibrium interest rate usually rises. B) the demand and supply curves for loanable funds both shift to the left and the equilibrium interest rate usually falls. C) the demand curve for loanable funds shifts to the right, the supply curve for loanable funds shifts to the left, and the equilibrium interest rate usually falls. D) the demand curve for loanable funds shifts to the left, the supply curve for loanable funds shifts to the right, and the equilibrium interest rate usually rises.
An individual seller's producer surplus on a unit of a good is
a. zero in perfect competition b. zero in monopoly c. greater than the buyer's consumer surplus on that unit d. an example of a side payment e. the difference between the price the seller receives and the cost of producing that unit.
The following factors tend to make the real GDP growth rate understate the growth of economic well-being, except:
A. Improved product quality B. Added leisure C. Debasement of the environment D. More stress-free lifestyle