Speculators are primarily interested in
A) betting on anticipated changes in prices.
B) reducing their exposure to the risk of price fluctuations.
C) increasing market liquidity.
D) reducing the spread between bid and ask prices on bonds.
A
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Suppose the labor market is perfectly competitive, but the output market is not. When the labor market is in equilibrium, the wage rate will:
A) be less than price times the marginal product of labor. B) equal price times the marginal product of labor. C) be greater than price times the marginal product of labor. D) None of the above is necessarily correct.
Which of the following is an accurate statement about a monopolistically competitive firm?
a. It uses ads to sell as much of a product as competitors do at the going price. b. It uses ads to continue selling a product even with decreasing prices. c. It uses ads to sell a product even with an expected price increase. d. It uses ads to sell more of a product than competitors do at the going price.