In the short run, which one of the following causes a competitive firm to hire more labor?
A) an increase in wage rate
B) an increase in the output price
C) a specific tax imposed on the firm's output
D) a decrease in the output price
B
Economics
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Specialization—the division of labor—enhances productivity and efficiency by:
A. allowing workers to take advantage of existing differences in their abilities and skills. B. avoiding the time loss involved in shifting from one production task to another. C. allowing workers to develop skills by working on one, or a limited number, of tasks. D. all of the means identified in the other answers.
Economics
Which of the following would be considered a contingent? contract?
A) a piece rate contract B) a profit-sharing contract C) a contact with a bonus D) All of the above.
Economics