The aggregate supply curve (short run) is upsloping because:
A. wages and other resource prices match changes in the price level.
B. the price level is flexible upward but inflexible downward.
C. per-unit production costs rise as the economy moves toward and beyond its full-
employment real output.
D. wages and other resource prices are flexible upward but inflexible downward.
C. per-unit production costs rise as the economy moves toward and beyond its full- employment real output.
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For a monopolistically competitive firm, marginal revenue
A) and price are unrelated. B) is less than the price. C) is greater than the price. D) equals the price.
Which of the following is most likely to reduce the incidence of employee shirking?
a. use of the corporate business structure, rather than an individual proprietorship b. closely relating the pay of workers to their productive contribution c. payment of identical wage rates to all workers d. providing workers with a year-end bonus if the business firm loses money during the year