All of the following are true regarding the current status of labor unions EXCEPT
A) organized labor's heyday occurred from the 1940s through the 1970s.
B) part of the explanation for the decline in union membership has to do with the shift away from manufacturing.
C) the deregulation of certain industries has also contributed to a decline in unionism.
D) recent labor laws have diminished worker's rights.
D
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In the figure above, the allocatively efficient output of computers is
A) 2 million per year. B) 3 million per year. C) 4 million per year. D) the largest amount possible.
If a firm is producing the level of output at which short-run average cost equals long-run average cost, then
A. the firm has chosen the cost-minimizing combination of inputs to produce this level of output. B. the firm has chosen the profit-maximizing level of output. C. with a fixed amount of capital, short-run average cost is greater than long-run average cost at any other level of output. D. both a and b E. all of the above