A profit-maximizing competitive firm will hire workers up to the point at which the wage equals the price of the final good multiplied by the marginal product of the last worker hired
a. True
b. False
Indicate whether the statement is true or false
True
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Which statement is true?
A. Most economists support rent control laws. B. Usury laws and rent control are price ceilings. C. Usury laws have never had any effect because they are set well above interest rates. D. None of these choices are true.
What are the three types of monetary policy lags?
A) the recognition lag, the identification lag, and the implementation lag B) the recognition lag, the inflation lag, and the impact lag C) the recognition lag, the implementation lag, and the government lag D) the recognition lag, the implementation lag, and the impact lag
Why does the government grant patents to companies that research new drugs?
What will be an ideal response?
Behavioral economists think that the less obvious a person's opportunity cost is:
A. the less likely they are to correctly value it. B. the more likely they will undervalue it. C. the harder it is to value accurately. D. All of these are true.