An employee gains $500 from shirking. Thus, to deter shirking, the employer makes employees post a bond equal to $1,000, and installs monitoring devices to detect shirking. What is the probability that these devices can detect shirking?

Refer to Scenario 1-4. Had the firm not produced and sold the last 500 cigars, would its profit be higher or lower, and if so by how much?

A) Its profit would be $500 lower. B) Its profit would be $1,500 lower. C) Its profit would be $500 higher. D) Its profit would be $1,000 higher.

If an electricians' union is successful in its attempts to restrict entry into that craft, it will shift

a. the supply curve of electricians to the right b. the supply curve of electricians to the left c. the demand curve for electricians to the right d. the demand curve for electricians to the left e. both the supply and demand curves for electricians