Theoretically, an increase in the real wage
A) increases leisure.
B) decreases leisure.
C) has an ambiguous effect on leisure.
D) has no effect on leisure.
C
Economics
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In what type of market is a cartel possible?
A) a market in which there are only a few firms and barriers to entry exist B) a market in which firms sell a homogeneous good C) a market in which firms sell a differentiated good D) a market in which there are many firms
Economics
The Coase Theorem is the proposition that private transactions are efficient if property rights exist, if only a ________ number of parties are involved, and if transactions costs are ________
A) large; low B) large; high C) small; low D) small; high
Economics