A firm's value of marginal product of labor curve
A) is flatter than its demand for labor curve.
B) is steeper than its demand for labor curve.
C) is its demand for labor curve.
D) bends backward.
C
You might also like to view...
Suppose that the current price of oil is $60 per barrel and the quantity sold is 90 million barrels per day
The current estimates of the price elasticity of supply and demand are ? = 1 and ? = -.2 respectively. What will be the effects on the market price and quantity if the U.S. government suddenly decides to purchase an additional 2 million barrels of oil? Assume that the supply and demand curves are linear and the addition consumption of oil by the government results in a parallel shift of the supply curve to the left by 2 million barrels per day.
If the exchange rate rises from .65 British pounds per dollar to .70 pounds per dollar, then compared to British goods, U.S. goods become
a. relatively more expensive for both British and U.S. residents. b. relatively more expensive for British residents and relatively less expensive for U.S. residents. c. relatively less expensive for British residents and relatively more expensive for U.S. residents. d. relatively less expensive for both British and U.S. residents.
If a shirt manufacturer has a surplus of two shirts when they're priced at $14 each and a shortage of two shirts at $10 each, market equilibrium is likely at
a. $11 per shirt b. $12 per shirt c. $13 per shirt d. $15 per shirt
Referring to Figure 18.2, the peso is likely to depreciate if the exchange rate is either ________ or ________ pesos to the dollar.
A. 10; 11 B. 11; 12 C. 12; 13 D. 13; 14