a. should sell more units of its output to earn higher prices. b.is earning a no

Question

a. should sell more units of its output to earn higher prices. b.is earning a normal profit. O c. is earning positive economic profit. O d. is experiencing a loss, but should continue operating temporarily because business conditions may i e e. is experiencing a loss and should shut down. QUESTION 49 According to Harvard economists Richard Freeman and James Medoff, the effect of unions is to: e a. decrease output in the union sector and have no impact on output in the nonunion sector e b. increase output in the union sector and decrease output in the nonunion sector. e c. decrease output in the union sector and increase output in the nonunion sector d. decrease output in the union sector and in the nonunion sector. e e. increase output in the union sector and in the nonunion sector. QUESTION 50 An example of an implicit cost of production is: a. the cost of milk bought by houschold consumers e b. the cost of space in someone's home that is used as his or her home office c. the cost of leather used in manufacturing furniture @ d. the wage paid to a high school student who works in a fast-food restaurant e. the wage of a high school teacher who provides tuitions to his students after school hours. to save all answers.

Explanation / Answer

49) e. Increase output in the union sector and in the non union sector.

According to Freeman and Medoff, increase in wages in union sector and its influence over non union employers to raise wages, increase the productivity of both union and non union sectors by reducing employees turnover.

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