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(Table: Employment and Output in the Buckwheat Market) Use Table: Employment and Output in the Buckwheat Market. In the table, if the price of a
(Table: Employment and Output in the Buckwheat Market) Use Table: Employment and Output in the Buckwheat Market. In the table, if the price of a bushel of buckwheat is $10, and the price of labor (the wage} is $120, then the profit-maximizing quantity of labor is: Table: Employment and Output in the Buckwheat Market Quantity of Labor Quantity of Marginal Product of (workers) Buckwheat Labor Question 68 2 pts When developing laws and regulations, elected government leaders are often biased in favor of the interests of established companies over those of new entrants because: 0 change has uncertain effects and is therefore avoided. 0 new entrants have clear reasons for being biased in their proposals, and established companies do not. Q prots are important to tax revenues. O established companies and their employees are voters who have clear interests in preserving the success of established companies. Question 69 2 pts The cost advantages of established, large-scale producers in a market might be overcome by a new entrant who can: O increase market demand. 0 develop a new, low-cost, small-scale production technology. 0 convince the government to stop issuing new patents. 0 push the market price down
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