Which of the following is true?
A) MSC = MC + Marginal external cost
B) MC = Marginal external cost - MSC
C) MC = Marginal external benefit + MSC
D) MSC = Marginal external cost + marginal external benefit
E) MSC = Marginal external cost - marginal external benefit
A
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The ability to deter entry requires
A) a credible threat that if entry occurs the firm is willing to produce more than they would otherwise. B) a credible threat that if entry occurs the firm will not produce more than they would otherwise. C) a good lawyer. D) a clever accounting department.
Which is the most accurate statement?
A. Unions are much more powerful today than they were 35 years ago. B. Unions are more powerful in the South than in any other section of the country. C. Nearly half of all American wage earners are members of unions. D. Union membership as a percentage of the labor force has been falling since the mid-1950s.