The labor-supply and labor-demand curves for the market intersect:

A. at the equilibrium wage.
B. above equilibrium price.
C. at the number of unemployed people in the market.
D. All of these statements are true.


A. at the equilibrium wage.

Economics

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Economists distinguish between normal and inferior goods using

a. price elasticity of demand b. price elasticity of supply c. income elasticity of demand d. cross-price elasticity of demand e. tax incidence

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If a regulatory board wanted to make sure that a natural monopoly earned a normal rate of return, it should set price which is equal to: a. marginal cost

b. average fixed cost. c. average variable cost. d. average total cost.

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The key determinant of net capital outflow is the real interest rate

a. True b. False Indicate whether the statement is true or false

Economics