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