The assumption of rational self-interest does not rule out the possibility of concern for other individuals

The law firm of Cheep, Cheeper, and Cheeperstill offers a salary of $35,000 to first-year lawyers. This firm will attract applications from

a. exactly the number of lawyers the firm wishes to hire b. many lawyers whose marginal revenue product is greater than $35,000 c. many lawyers whose marginal revenue product is less than $35,000 d. only lawyers whose marginal revenue product is equal to $35,000 e. many lawyers whose marginal revenue cost is equal to $35,000

In a typical cartel agreement, the cartel maximizes profit when it: a. behaves as a duopolist

b. is flexible in enforcing production targets. c. behaves as a monopolist. d. behaves as a perfectly competitive firm.