Question Details

[answered] A key determinant of recent labor productivity has been A.


Someone help me,this is very urgent


1. A key determinant of recent labor productivity has been

A. family size. C. information technology.

B. equilibrium wages. D. an increase in product demand.

2. The deadweight loss that?s associated with monopolistically competitive markets is a result of

A. operating in a constant-cost industry.

B. advertising costs.

C. pricing below marginal cost in order to increase market share.

D. pricing above marginal cost.

3. The practice of selling a product to retailers and requiring the retailers to charge a specific

price for the product is called

A. fixed retail pricing. C. resale price maintenance.

B. unfair trade. D. cost-plus pricing.

4. When advertising fosters brand loyalty, critics claim that it

A. impedes competition.

B. lowers the quality of goods in the market.

C. alters a firm?s supply curve.

D. increases competition in the market.

5. The profit-maximizing employment rule for a competitive firm ensures that

A. output price will equal marginal cost.

B. revenue will be maximized.

C. total costs will be minimized.

D. price will always exceed cost of production.

6. Which of the following statements is correct?

A. Over time, government has been less lenient toward advertising in order to enhance

the ability of markets to allocate resources efficiently.

B. Over time, government has been more lenient toward advertising in order to enhance

competition in markets.

C. Over time, government has been more lenient toward advertising in order to enhance

brand loyalty.

D. Over time, government has been less lenient toward advertising in order to decrease

elasticity of demand for specific products.

7. When the number of firms in a market is small, firms

A. generally organize as a cartel.

B. are less concerned about competitors? behavior, since there?s always sufficient

demand to keep all firms happy.

C. are guaranteed an economic profit.

D. must generally consider how competing firms respond to their decisions.

8. When a profit-maximizing firm makes a decision to employ a worker, that decision is

based on

A. the individual contribution that the worker makes to the profit of the firm.

B. how much output the worker can produce.

C. the familial relationship between the employer and the employee.

D. the total output produced by the firm.

9. Why might it be rational to trust a brand name more than an unknown product?

A. Brand name products are lower-priced.

B. Brand name products are better quality.

C. Brand name companies have invested heavily in their reputations.

D. Greater market share means greater quality.

10. For a perfectly competitive firm to maximize profit, any rise in the market wage must be

A. offset by a decrease in the value of marginal product.

B. followed by an increase in employment.

C. followed by a decrease in the marginal product of labor.

D. followed by an increase in the marginal product of labor.

11. Markets that are characterized by a few sellers who sell similar or identical products are

typically referred to as

A. aggressive markets. C. monopoly markets.

B. oligopoly markets. D. competitive markets.

12. Which of the following could decrease labor demand?

A. An increase in migrant workersl

B. A decrease in demand for the final product produced by labor

C. A decrease in the labor supply

D. An increase in the marginal productivity of workers




1. Correct answer is (C) information technology. This is direct as labor productivity will

 

affected by the latter.

 

2. Correct answer is (D) pricing above marginal cost.

 

Explanation: Equilibrium...

 


Solution details:
STATUS
Answered
QUALITY
Approved
ANSWER RATING

This question was answered on: Sep 18, 2020

PRICE: $15

Solution~0001003280.zip (25.37 KB)

Buy this answer for only: $15

This attachment is locked

We have a ready expert answer for this paper which you can use for in-depth understanding, research editing or paraphrasing. You can buy it or order for a fresh, original and plagiarism-free copy from our tutoring website www.aceyourhomework.com (Deadline assured. Flexible pricing. TurnItIn Report provided)

Pay using PayPal (No PayPal account Required) or your credit card . All your purchases are securely protected by .
SiteLock

About this Question

STATUS

Answered

QUALITY

Approved

DATE ANSWERED

Sep 18, 2020

EXPERT

Tutor

ANSWER RATING

GET INSTANT HELP/h4>

We have top-notch tutors who can do your essay/homework for you at a reasonable cost and then you can simply use that essay as a template to build your own arguments.

You can also use these solutions:

  • As a reference for in-depth understanding of the subject.
  • As a source of ideas / reasoning for your own research (if properly referenced)
  • For editing and paraphrasing (check your institution's definition of plagiarism and recommended paraphrase).
This we believe is a better way of understanding a problem and makes use of the efficiency of time of the student.

NEW ASSIGNMENT HELP?

Order New Solution. Quick Turnaround

Click on the button below in order to Order for a New, Original and High-Quality Essay Solutions. New orders are original solutions and precise to your writing instruction requirements. Place a New Order using the button below.

WE GUARANTEE, THAT YOUR PAPER WILL BE WRITTEN FROM SCRATCH AND WITHIN YOUR SET DEADLINE.

Order Now