Out of These Four, Which One Is the Only Correct

question 22

Multiple Choice

Out of these four, which one is the only correct statement concerning OSHA?

• A) Critics call OSHA a "toothless tiger".
• B) OSHA regulates the shifts people work.
• C) OSHA says few accidents are caused by sleep deprivation and fatigue.
• D) OSHA states the key to worker safety is improved engineering.

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Definitions:

Imperfectly Competitive Market

A market structure where all firms have some control over the prices because the products are differentiated and there are few participants.

Total-Product Schedule

A chart that shows the maximum output of a good achievable from different levels of input usage, holding technology constant.

Purely Competitive

A market structure characterized by a large number of small firms, homogeneity of product, and free entry and exit from the market.

Marginal Revenue Product

The additional revenue generated from employing one more unit of a resource or input in production.