Bob, the manager and owner of a small company, believes in the theory of efficiency wages. As such, Bob would be most likely to agree with which of the following quotes?
a. "The only place where success comes before work is in the dictionary.".
b. "Work hard. Play harder.".
c. "Pay a man for the job you want him to do.".
d. "Imagination is more important than knowledge.".
c
Economics
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The number of satellite dishes increased by 50 percent when the average monthly price of cable TV increased by 10 percent. Assuming that other factors are held constant, satellite dishes and cable TV are classified as:
a. complements. b. unrelated goods. c. substitutes. d. social goods.
Economics
Above the shutdown point, a competitive firm's supply curve coincides with its:
a. marginal revenue curve. b. marginal cost curve. c. average variable cost curve. d. average total cost curve.
Economics