The National Labor Relations Board
a. enforces antitrust laws against unions.
b. enforces workers' rights to unionize.
c. acts as a union's representative in collective bargaining.
d. is required to approve all collective bargaining agreements before they can be enforced.
b
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Suppose the production of mp3 players can be represented by the following production function: q = L0.4K0.4. The firm currently produces q1 units. If all inputs doubled, the new level of output will equal
A) 20.4 q1. B) 20.8 q1. C) 0.8 q1. D) 1.6 q1.
Market equilibrium occurs at that price for which
a. quantity supplied equals quantity demanded b. cost equals the wages to labor c. the surplus quantity drives increased demand d. quantity supplied exceeds quantity demanded e. quantity supplied is less than quantity demanded