Firms that survive in the long run are usually those that
A) become as large as possible.
B) remain small.
C) use more capital rather than more labor.
D) earn the largest possible profit.
D
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Refer to Figure 17-5 to answer the following questions
a. What is the equilibrium quantity of firefighters hired, and what is the equilibrium wage? b. What is the equilibrium quantity of paralegals hired, and what is the equilibrium wage? c. Explain why firefighters might earn a higher weekly wage than paralegals. d. Suppose that comparable worth legislation is passed, and the government requires that firefighters and paralegals be paid the same wage, $800 per week. Now how many firefighters will be hired and how many paralegals will be hired?
Refer to Scenario 1. What is the t-statistic for the slope coefficient?
A) 3.04 B) 0.94 C) 0.30 D) 4.46