Collusive control over price may permit monopolists to:
A. Use new technology, achieve economies of scale, and get government subsidies
B. Achieve economies of scale, reduce costs, and prevent price cheating
C. Increase product demand, increase product supply, and lower cost
D. Reduce uncertainty, increase profits, and possibly limit entry of new firms
D. Reduce uncertainty, increase profits, and possibly limit entry of new firms
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The increased labor force participation rates for women since the 1970s led most directly to ________
A) an increase in labor demand B) a decrease in labor demand C) a decrease in labor supply D) an increase in labor supply
If a firm hires labor for $8,000, pays rent of $4,000, buys raw materials for $13,000 from another firm, earns profits of $1,200, and sells its output for $31,000, the value added by the firm is _____
a. $4,800 b. $10,000 c. $18,000 d. $25,000 e. $26,200