Which of the following is true of the market for labor?
A) Workers are the suppliers of labor.
B) Workers are the demanders of labor.
C) The labor supply curve is perfectly elastic.
D) The labor demand curve is perfectly elastic.
A
Economics
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Refer to Figure 15-16. In the absence of any government regulation, the profit-maximizing owners of this firm will produce ________ units and charge a price of ________
A) Q3 units; P3 B) Q1 units; P4 C) Q2 units; P2 D) Q0 units; P0
Economics
The total cost (TC) of producing computer software diskettes (Q) is given as: TC = 200 + 5Q. What is the average total cost?
A) 500 B) 5Q C) 5 D) 5 + (200/Q) E) none of the above
Economics