Figure 10.2 depicts a firm's marginal revenue product curve. If the wage rate is $15, how many workers will the firm demand?

A merger between firms in which one firm purchases an input from the other is called a

A) conglomerate merger. B) horizontal merger. C) vertical merger. D) none of the above.

Which of the following observations is true of subsidies? a. They act as barriers to trade

b. They reduce the amounts of actual labor, raw material, and capital costs of production. c. They are capable of distorting trade patterns. d. They reduce inefficiencies.