The organization that unionized workers along industrial rather than craft lines was the
a. Chamber of Commerce
b. American Federation of Labor
c. National Labor Relations Board
d. Journeymen Stonecutter's Association
e. Congress of Industrial Organization
E
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Suppose the elasticity of demand for Mexican food is 3.00 and the elasticity of supply is 1.20. If the government imposes a sales tax on Mexican food, which of the following occurs?
i. Less Mexican food is purchased by buyers. ii. Less Mexican food is produced by sellers. iii. The government receives the excess burden as revenue. iv. Both the consumer surplus and the producer surplus decrease. A) i and ii B) iii only C) i, ii, and iv D) iv only E) i, ii, iii, and iv
Refer to the data provided in Table 9.4 below to answer the question(s) that follow. Table 9.4qTFCTVCTCMCAVCATC0$100 $0$100 ---- -- 11004014040 40 140 21006016020 30 80 31009019030 30 63.334100124 224 343156 5100180 280 56 36 56 6100 264 364 84 44 60.677100 372 472 108 53.14 67.42Refer to Table 9.4. If the market price is $56 and the firm produces 5 units of output, then its profit would be
A. -$100. B. -$88. C. $0. D. $36.