Firms in a perfectly competitive market cannot influence
a. the quantity of the good that they produce
b. how much labor to use in production
c. how much capital to employ in production
d. the level of advertising that they use
e. the price of the product they sell
E
Economics
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The widespread adoption of computers in the workplace has likely led to
A) an increase in labor productivity because computers are a capital good. B) a decrease in labor productivity because computers are a capital good. C) an increase in the supply of labor because people are needed to operate the computers. D) no change in the quantity of labor hours. E) a decrease in human capital because computers are physical capital.
Economics
Refer to Table 15-4. What is Shakti's profit-maximizing output?
A) 4 units B) 5 units C) 6 units D) 7 units
Economics