In an open outcry Dutch auction, ________
A) the bidders begin the bidding process with a low starting bid
B) the auctioneer begins the bidding process with a low starting bid
C) the auctioneer begins the bidding process with a high starting bid
D) the bidders decide the starting bid
C
Economics
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Refer to the above table. Suppose the price of the good sold is $3 and the marginal factor cost of labor is $300, how many units of labor will the firm hire?
A) 4 B) 5 C) 6 D) 3
Economics
If productivity increases by 3 percent but wages increase by 4 percent, then it is most likely that the price level will:
A. fall by 1 percent. B. fall by 7 percent. C. rise by 1 percent. D. rise by 7 percent.
Economics