What is the term for a situation in which a person is overqualified for the job he or she has?
(A) Partial employment
(B) Discouraged worker
(C) Underemployment
(D) Low-skilled work
Ans: (C) Underemployment
Economics
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Sam is suing someone in court for $10,000. The probability that Sam will lose the case is 1/h where h is the number of hours that Sam's attorney works on the case
The lawyer charges $500 per hour if he is to be paid hourly, or he requests 20% of the settlement if he is to be paid on a contingency basis. Assuming both Sam and the attorney are risk-neutral wealth maximizers, is either contract efficient?
Economics
An individual perfectly competitive firm's supply curve is its:
a. average-fixed-cost curve. b. marginal revenue curve. c. average-variable-cost curve. d. marginal cost curve. e. total cost curve.
Economics