The fast-food industry is generally considered to be a constant cost industry in regards to its use of labor as an input. Why?
a. Few people prefer to work in the industry
b. Available labor is in short supply.
c. Firms use a relatively small share of unskilled labor in most cities.
d. The productivity of the workers is relatively low.
c
Economics
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If a road is congested, then use of that road by an additional person would lead to a
a. negative externality. b. positive externality. c. Pigovian externality. d. free-rider problem with rush hour drivers stuck in traffic.
Economics
The part of disposable income not spent on current consumption is
A. Dissaving. B. Saving. C. Social Security taxes. D. Investment.
Economics