A closed shop
A. is an arrangement unions have with employers limiting employment to union members only.
B. is one in which union workers cannot be hired.
C. allows a firm to close its doors at will.
D. is legal in the United States.
A. is an arrangement unions have with employers limiting employment to union members only.
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When comparing the salaries of a superstar CPA and a superstar golfer,
a. both can earn tremendously high salaries because both can meet with millions of clients. b. the superstar CPA will not earn as much as the superstar golfer because superstar accountants do not have access to the same sophisticated technologies that superstar golfers do. c. the superstar CPA will not earn as much as the superstar golfer because a superstar accountant can only work with a limited number of clients per day, whereas millions of fans can enjoy the services provided by a superstar golfer on a given day by watching a televised tournament. d. the superstar CPA will not earn as much as the superstar golfer because customers are unable to distinguish superstar accountant from a mediocre accountant.
At equilibrium price and quantity, how much total revenue will bottled water suppliers receive in a given year?
Suppose that the U.S. market for bottled water is modeled as follows: S = MSC = 1 + 0.3Q D = MSB = 5 – 0.1Q, whereQ is billions of gallons per year and MSC and MSB are in dollars per gallon.