As a result of establishing a legal minimum wage above the market clearing wage
A) there will be a shortage of workers.
B) firms will hire fewer workers.
C) firms will hire more workers.
D) fewer workers will want to work.
B
Economics
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A firm in monopolistic competition is similar to a firm in perfect competition because they both
A) can earn only zero economic profit in the long run. B) can earn only zero economic profit in the short run. C) maximize their profits by producing where P = MR = MC. D) Both answers A and C are correct. E) Both answers B and C are correct.
Economics
Dynamic and static games have outcomes that
A) may be different. B) are always different. C) are not Nash equilibria. D) result from dominant strategies.
Economics