On average, truck drivers who drive on dangerous ice-covered roads earn more per mile driven than similarly skilled truck drivers who drive on normal roads. The difference in pay can be attributed to
a. the marginal product of labor.
b. the marginal product of capital.
c. diminishing marginal returns.
d. a compensating differential.
d
Economics
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If the government removes a $2 tax on buyers of cigars and imposes the same $2 tax on sellers of cigars, then the price paid by buyers will
a. not change, and the price received by sellers will not change. b. not change, and the price received by sellers will decrease. c. decrease, and the price received by sellers will not change. d. decrease, and the price received by sellers will decrease.
Economics
Which of the following in NOT a source of profit?
A. Innovation B. Wages C. Exercise of monopoly power D. Risk taking
Economics