If MFC < MRPL, the firm should
A. lower wages.
B. get rid of some capital.
C. reduce the number of workers.
D. hire more workers.
Answer: D
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Refer to the figure shown, which represents the production possibilities frontiers for Countries A and B. Considering both country's production possibilities frontiers, we know that would both agree to terms of trade of one truck to:
A. eight cars. B. two cars. C. six cars. D. four cars.
Using the above table, moving from alternative C to alternative B, what is the opportunity cost of one loaf of bread?
A) 1 pizza pie B) 30 pizza pies C) 2 pizza pies D) 0.5 pizza pie
______ is the percentage change in hours worked divided by the percentage change in wages—will determine the shape of the labor supply curve.
a. Elasticity of savings b. Cross-price elasticity of demand c. Income elasticity of demand d. Wage elasticity of labor supply
When a bank loans out $1,000, the money supply
a. does not change. b. decreases. c. increases. d. may do any of the above.