Suppose That Once a Well Is Dug,water Flows Out of It

question 88

Multiple Choice

Suppose that once a well is dug,water flows out of it continuously without any additional effort.Customers collect their water and pay a per gallon fee when they leave the site of the well.In the short run,the competitive firm in this market

• A) has no variable costs.
• B) has no fixed costs.
• C) will shut down.
• D) can produce water at no cost.

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Definitions:

Criteria

Standards or principles by which something is judged or decided.

Bargaining Units

Groups of employees with a clear community of interests, represented by a single labor union in collective bargaining agreements with their employer.

NLRB

The National Labor Relations Board, an independent agency of the United States government charged with enforcing US labor law in relation to collective bargaining and unfair labor practices.

SEIU

The Service Employees International Union, a labor union representing almost 2 million workers in the United States and Canada in healthcare, public services, and property services.