Hiring Tech Support Collin County Community College (CCCC) has an ongoing problem that the electronic equipment in their classrooms and computer labs keeps malfunctioning and the repairs that are made seem to cause problems with some other aspect of the

equipment. Due to its bureaucratic structure, CCCC has a hiring preference for their own students and it is only allowed to pay $15 per hour when the going rate is closer to $18 per hour. How does this contribute to CCCC's equipment problems?

CCCC is a victim of adverse selection. Tech support staff members are of varying degrees of competence and expertise. Those who are more competent are better able to migrate to better paying jobs. Those willing to a take below market wage, are the ones who cannot keep better paying jobs.

Economics

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The demand for Dell laptops is more price elastic than the demand for laptops as whole. This is best explained by

a. There are fewer substitutes for Dell laptops than for laptops as whole b. There are more substitutes for Dell laptops than for laptops as whole c. Dell laptops are luxurious goods d. Dell laptops are a necessity

Economics

In the context of aggregate supply, the long run is defined as the period during which

a. some prices are set by contracts and cannot be adjusted. b. prices can change, but neither aggregate supply nor aggregate demand can shift. c. individuals have sufficient time to modify their behavior in response to price changes. d. quantity changes cannot occur in response to changes in relative prices.

Economics