What is true of employee benefits?

A) Employees have a thorough understanding of what benefits they have and what the market value of these benefits is.
B) Employees have a hard time understanding the cost and value of their benefits.
C) It is up to employees to determine the cost and value of their benefits.
D) Employees, for the most part, are just not interested in their benefits.
E) Employers have very limited options for communicating information about benefits.

At an output ________ of a firm's short run average total cost curve, a firm can use its fixed capital input at a lower average cost but only by using its variable input at a higher average cost.

A) beyond the minimum point
B) beyond the maximum point
C) prior to the minimum point
D) equal to the highest level

A major disadvantage of the corporate form of business is limited liability.

Effective price floors keep market price

A) above the equilibrium price and create surpluses.
B) above the equilibrium price and create shortages.
C) below the equilibrium price and create surpluses.
D) below the equilibrium price and create shortages.

An improvement in the quality of capital would:

A) rotate the per-worker production function upward.
B) make the per-worker production function flatter.
C) shift the per-worker production function downward.
D) rotate the per-worker production function downward.
E) have no effect on the per-worker production function.

(Figure: Shifts in Demand and Supply III) Use Figure: Shifts in Demand and Supply III.The figure shows how supply and demand might shift in response to specific events.Suppose scientists discover that eating asparagus slows the aging process.Which panel BEST describes how this will affect the market for asparagus?

A) Panel A
B) Panel B
C) Panel C
D) Panel D