Consumers may benefit more than sellers from a subsidy to sellers if:
A. they deserve the subsidy more.
B. the demand curve is relatively more elastic than the supply curve.
C. the demand curve is relatively less elastic than the supply curve.
D. Consumers can never benefit more than sellers from a subsidy to sellers.
B. the demand curve is relatively more elastic than the supply curve.
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Suppose an agent must pay the full marginal cost for an item but splits the marginal revenue with the principal. As a result,
A) joint profit is maximized. B) joint profit is not maximized. C) the agent will not enter into such a contract. D) the agent wishes to sell as many items as he can.
Martha did not like her job as a receptionist, so she quit and is looking for one that better suits her artistic talents. Ting Pei would like to work, but employers are not willing to hire him because he does not speak English. Martha is ________ unemployed and Ting Pei is ________ unemployed.
A. frictionally; structurally B. structurally; cyclically C. cyclically; structurally D. structurally; frictionally