From 2002 to 2014, employment
a. declined in health care and food services
b. declined in health care and increased in food services.
c. declined in food services and increased in health care.
d. increased in health care and food services.
d
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A monopolist's marginal revenue curve is
A) the same as a perfectly competitive firm's marginal revenue curve. B) higher than the monopolist's demand curve. C) below the firm's demand curve. D) a horizontal line at the market price.
The equilibrium wage rate in an industry is determined by
A) finding where the market supply curve indicates that the substitution effect and income effect of a wage increase are offsetting. B) the intersection of the market demand curve for labor and the market supply curve for labor. C) the strength of the substitution effect relative to the elasticity of demand for labor. D) whether workers or management are better at negotiating.