One reason that firms hire labor at the point where w = MPN is
A) if w < MPN, the cost (w) of hiring additional workers exceeds the benefits (MPN) of hiring them, so they should hire fewer workers.
B) if w > MPN, the cost (w) of hiring additional workers is less than the benefits (MPN) of hiring them, so they should hire more workers.
C) if w < MPN, the cost (w) of hiring additional workers equals the benefits (MPN) of hiring them, so they have the right number of workers.
D) if w > MPN, the cost (w) of hiring additional workers exceeds the benefits (MPN) of hiring them, so they should hire fewer workers.
D
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Abe can catch 10 pounds of fish an hour or pick 10 pounds of fruit. Zeb can catch 30 pounds of fish an hour or pick 20 pounds of fruit
The opportunity cost of fish is ________ for Abe than for Zeb, and the opportunity cost of fruit is ________ for Abe than for Zeb. A) higher, lower B) lower, higher C) higher, higher D) lower, lower
Suppose that the money supply increases. In the short run, this increases prices according to
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return on this machine is: A. 7.5 percent. B. 10 percent. C. 15 percent. D. 20 percent.
U.S. immigrants (legal and illegal) have:
A. higher prison rates and crime rates than the native-born population. B. lower prison rates and crime rates than the native-born population. C. lower prison rates, but illegal immigrants have higher crime rates than the native-born population. D. higher prison rates, but lower crime rates, than the native-born population.