The amount of labor a firm employs depends on
A) the market wage.
B) the market price for the good produced.
C) Both A and B.
D) None of the above.
C
You might also like to view...
Net exports of goods and services is equal to the value of
A) exports plus the value of imports. B) imports minus the value of exports. C) domestic consumption minus the value of imports. D) exports minus the value of imports. E) domestic consumption minus the value of exports.
The level of transactions costs is relevant to the resolution of property rights problems
a. True b. False
Whenever average cost exceeds marginal cost,
A. average cost is rising. B. average cost is falling. C. marginal cost is rising. D. marginal cost is falling.
What is one problem with trying to regulate a monopoly's price?
A) The government needs information on the monopoly's marginal cost. B) The government needs information on the price people are willing to pay. C) The government needs to identify which firm is a monopolist. D) Anything that the government does is problematic.