Suppose a monopsonist wants to hire more workers. If it has to pay the same wage to all of its workers, the:
a. marginal factor cost will fall while the wage will rise.
b. wage will fall while the marginal factor cost will rise.
c. difference between the wage and marginal factor cost will become smaller.
d. difference between the wage and the labor supply curve will increase.
e. wage and the marginal factor cost will increase.
e
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Over time, people in the United States and other high-income countries have, on average, become taller, which is an indication that their nutritional status has improved
Indicate whether the statement is true or false
The government currently has a time limit on welfare. Although families may be eligible for welfare on more than one occasion, eligibility per family runs out after
a. six months of benefits b. two years of benefits c. five years of benefits d. ten years of benefits e. never
"Leaning against the wind" is exemplified by a(n)
a. tax increase when there is a recession. b. decrease in the money supply when there is a recession. c. increase in government expenditures when there is a recession. d. All of the above are correct.
Smith and Jones comprise a two-person economy. Their hourly rates of production are shown in the accompanying table. Calculators Per HourComputers Per HourSmith10010Jones1206 If Smith and Jones are dividing their time efficiently and producing fewer than 10 computers and more than 120 calculators per hour, then Smith will ________ and Jones will ________.
A. produce only computers; produce only calculators B. split his time between computers and calculators; produce only calculators C. produce only calculators; split his time between computers and calculators D. produce only calculators; produce only computers