The determinants of labor supply include:
A. culture and other opportunities.
B. supply of other factors and output prices.
C. culture and technology.
D. other opportunities and technology.
A. culture and other opportunities.
You might also like to view...
Big Waves is a large water park. Suppose the individual demand for entrance into Big Waves is Qd = 50 - (2 × P) and each consumer has the same demand. Big Waves has a constant marginal cost of $5 per consumer. If Big Waves charges the profit-maximizing single entry price to each consumer and offers the profit-maximizing number of entries, what is Big Waves profit per consumer?
A) $250 B) $200 C) $100 D) $300
A small change in the rate of productivity growth will have: a. a small impact on output in both the short run and the long run
b. a large impact on output in both the short run and the long run. c. a small impact on output in the short run but a large impact in the long run. d. a large impact on output in the short run but a small impact in the long run. e. no effect on output at all.
Refer to the following indifference map for a consumer who has an income of $48 to spend on goods X and Y and the market prices of X and Y are both $4: Now suppose the price of good X increases to $12 while the price of good Y remains $4. Utility will be maximized on which indifference curve?
Now suppose the price of good X increases to $12 while the price of good Y remains $4. Utility will be maximized on which indifference curve?
A. I B. II C. III D. On an indifference curve below I
____________is a market structure in which no close substitute products are available
Fill in the blank(s) with the appropriate word(s).