When local governments ignore all other considerations and award cable TV franchises to the firms that offer the highest money bids, they
A) discriminate against the poor.
B) encourage corruption.
C) introduce delay into the system but increase its efficiency.
D) reduce the likelihood of illegal bribes.
E) increase the likelihood the winning firm will be incompetent.
D
Economics
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All of the following are factors that will shift the supply curve except
A) a change in production technology. B) changing tastes and preferences. C) a change in the price of substitutes in production. D) a change in the number of producers.
Economics
Assume that a company is producing at a point beyond where diminishing returns has already set in. If the firm cuts back on production what would you expect should happen to the marginal product of labor and why?
What will be an ideal response?
Economics