Structural unemployment may result from all of the following factors EXCEPT
A) improved elementary and secondary education.
B) union wage contracts.
C) government-imposed licensing arrangements that restrict entry into certain professions.
D) welfare and unemployment benefits.
A
Economics
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Comment on the following statement: "A firm with market power is able to charge any price it likes."
What will be an ideal response?
Economics
Joe's demand for spring water can be represented as p = 10 - Q (where p is measured in $/gallon and Q is measured in gallons). He recently discovered a spring where water can be obtained free of charge. His consumer surplus from this water is
A) $0. B) $50. C) $100. D) unknown based upon the information provided.
Economics