If MRP > MLC, it means that a firm should
A) use less labor.
B) use more labor.
C) increase its fixed capacity.
D) decrease its fixed capacity.
B
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Congress's passage of new laws significantly increasing the regulation of business would tend to ________.
A. increase per-unit production costs and shift the aggregate demand curve to the left B. increase per-unit production costs and shift the aggregate supply curve to the right C. increase per-unit production costs and shift the aggregate demand curve to the right D. increase per-unit production costs and shift the aggregate supply curve to the left
If the graph shown is displaying a competitive labor market:
A. S would represent an individual worker's supply of labor at each wage.
B. S would represent the firm's supply of jobs at each wage.
C. P* would represent the equilibrium wage.
D. Q* would represent the equilibrium wage.
The total earnings of a worker are represented by E = 100 + $10(24 ? L), where E is earnings and L is the number of hours of leisure. How much will the worker earn if he takes 14 hours of leisure per day?
A. $200 B. $240 C. $100 D. $150
Carlos can buy either sushi or eggrolls. If the prices of sushi and eggrolls triple and so does Carlos's money income, we can deduce that Carlos's budget constraint will
A. swivel in so that the slope of the budget constraint is tripled. B. shift out but remain parallel to the old one. C. shift in but remain parallel to the old one. D. remain unchanged.