If the government liberalizes immigration policies, the demand for labor will ________, the real wage will ________, and the quantity of labor hired will ________
A) remain the same; decrease; increase B) increase; decrease; remain the same
C) remain the same; decrease; decrease D) remain the same; increase; decrease
A
Economics
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If only two identical firms operate in a market, consumers prefer
A) a Cournot equilibrium. B) a Stackelberg equilibrium. C) a collusive equilibrium. D) any equilibrium since they all result in the same consumer surplus.
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Which of the following is not a necessary characteristic of a successful price discriminator? a. It has market power. b. It can prevent the resale of the product
c. Its marginal costs of production differ across customers. d. Willingness to pay for its product differs across customers.
Economics