The United Auto Workers is an example of
A) a public-sector union.
B) a craft union.
C) an industrial union.
D) a socialist union.
C
Economics
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The demand for a monopoly's output is p = 200 - Q. The monopoly's production function is Q = 2L, and the market wage is $4. How many units of labor will the monopolist employ at its profit maximization level of output?
A) L = 49.5 B) L = 4623 C) L = 198 D) L = 10
Economics
Appendix: Winning an auction can be exhilarating, but it can also lead to doubt as to whether you did the right thing or not. This is called:
a. The regret effect. b. Moral hazard. c. Second wind. d. The winner's curse.
Economics