A corporation's board of directors
A) hire the managers of the corporation.
B) control the day-to-day activities of the corporation.
C) are personally liable for the debts of the corporation.
D) are the sole owners of the corporation.
Answer: A
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Which of the following variables will not cause the market supply curve of labor to shift?
A) a change in the labor participation rate of women B) an increase in the number of people between the ages of 16 and 65 C) increases in population D) a favorable change in consumer tastes
A dominant-firm's residual demand curve is
A) the horizontal difference between the market demand curve and the supply curve of the fringe firms. B) the vertical difference between the market demand curve and the supply curve of the fringe firms. C) the demand curve left for the fringe firms after the dominant firm has determined an output level. D) None of the above.