Minimum-wage
Select the right ans wer of the question. Critics of minimum-wage legislation argue that it: A) keeps inefficient producers in business. B) reduces employment.C) undermines incentives to work. D) is deflationary.
When the wholesale price P = $3 per dozen increased, this purely competitive increased farm maximizes profit with producing ___ dozen increased at a total (loss or profit) of $___. (i) zero; loss; $2000. (ii) 2000; loss; $1500. (iii)
By description, a family of four receives welfare when it: (1) pays a smaller share of taxes than its share of benefits from government. (2) lives below the poverty line. (3) includes a student attending college on an academic scholar
Can someone help me in finding out the right answer from the given options. The Moral hazards which produce shirking by employees can be partly remedied when firms adopt the policies of: (1) Efficiency salaries. (2) Hierarchical signaling. (3) Careful screening throug
I have a problem in economics on Problem of tax on a good. Please help me in the following question. The tax on a good tends to form: (1) A wedge between the price buyers pay and the price sellers collect. (2) Rises in supply from the perspectives of buyers. (3) More
A firm along with market power faces a downward sloping demand curve since: (w) selling more of the good needs a price cut. (x) marginal revenue should equal average revenue. (y) only pure monopolies face horizontal demand curves. (z)
For a specified distribution of income within a purely competitive economy, marginal social benefit will the same marginal social cost unless: (w) “hit and run” entrepreneurs prosper. (x) economic profits
To assert that a firm made exactly zero economic profits as well signifies that it made: (i) Zero accounting profits. (ii) Normal economic profits. (iii) Negative accounting profits. (iv) No profits at all. Choose the right answer
The value of land is attributable to the ways exactly sites decrease transportation and other transaction costs are termed as: (1) location rents. (2) transportation rents. (3) short term quasi rents. (4) parcel posts. (5) transaction
Transactions increase and demand prices move below supply prices while a good turns into: (w) subsidized by the government. (x) subject to a high sales tax. (y) more technologically advanced. (z) a complementary by pr
Natural barriers to entry within a market arise primarily by: (w) strategies by existing firms to discourage the entry of new firms. (x) perfectly inelastic demands for products. (y) the declining cost structure inherent in producing certain goods. (z
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