We typically think of labor as a variable cost, even in the very short run. However, some labor costs may be fixed. Which of the following items represents an example of a fixed labor cost?

For which of the following pairs of goods would most people likely have convex indifference curves?

A) nickels and dimes B) left shoes and right shoes C) movie tickets and concert tickets D) None of the above.

In a market economy, household income is determined primarily by

a. the age of the head of household b. the gender of the head of household c. luck d. the productivity of labor resources e. government transfer payments