The existence of a union
A) has no effect on labor supply and demand.
B) affects labor supply only.
C) affects labor demand only.
D) can affect both labor supply and labor demand.
D
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Which of the following statements is true?
A) Income inequality within most countries has increased during the past 20 years. B) Income inequality across the entire world has decreased during the past 20 years. C) Income inequality within most countries and across the entire world has not changed much during the past 20 years. D) Both A and B are correct. E) None of the above is correct.
A competitive car wash currently hires 4 workers, who together can wash 80 cars per day. The market price of car washes is $5 per wash, and the price of workers is $60 per day. The car wash should hire a fifth worker if it would increase total production to at least:
a. 92 cars per day. b. 100 cars per day. c. 104 cars per day. d. 110 cars per day.