The theory of education that states firms use educational attainment as a way of sorting between high-ability and low-ability workers is called

Fashion trends are a nonprice determinant for demand because

A) they cause a movement along the demand curve. B) they influence people's tastes and preferences in clothing. C) they change the supply of accessories. D) they do not affect demand.

Each additional unit of output produced by a unit of labor is valued at the price of the firm's output

a. always. b. when the firm is selling in a competitive market. c. when the firm has monopoly power in the market for its output. d. when the firm has monopsony power in the market for labor.