Consumers should purchase a good up to the point where MU = P
a. True
b. False
Indicate whether the statement is true or false
True
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If a union is able to successfully lobby Congress to limit imports of rival products, and thus to raise the demand (and thus price) for the goods or services they make, then which of the following best describes the outcome? a. The supply of labor will increase
b. The demand for labor will increase. c. The supply of labor will decrease. d. The demand for labor will decrease.
Which group of farmers benefits the least from price supports in agriculture?
A. Those farmers receiving the highest average farm-family income B. Those farmers receiving the midrange average farm-family income C. Those farmers receiving the lowest average farm-family income D. Large corporate farms