It is estimated that, on the average and taking account of skill differentials, union wages are
A) 100 percent higher than nonunion wages.
B) less than nonunion wages.
C) 10-25 percent higher than nonunion wages.
D) 66 percent higher than nonunion wages.
E) equal to nonunion wages.
C
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According to Karl Marx, one's social consciousness was determined by one's relationship to the ____________.
Fill in the blank(s) with the appropriate word(s).
The market demand for a monopoly firm is estimated to be:Qd = 100,000 - 500P + 2M + 500PRwhere Qd is quantity demanded, P is price, M is income, and PR is the price of a related good. The manager has forecasted the values of M and PR will be $50,000 and $20, respectively, in 2016. For 2016, the marginal revenue function is
A. MR = 290 - 0.002Q. B. MR = 580 - 0.001Q. C. MR = 600 - 0.004Q. D. MR = 290 - 0.5P. E. none of the above