The firm's demand for labor curve is exactly the same as the:
a. wage rate.
b. price of the output.
c. MRP curve.
d. MP curve.
e. labor supply curve.
c
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A. What are the two effects of an increase in the wage rate on an individual's labor supply decision? Briefly explain each effect
b. Explain how a labor supply curve could be backward bending. What will be an ideal response?
Bonds issued by state and local governments are called ________ bonds
A) corporate B) Treasury C) municipal D) commercial
In 1860, earnings from cotton exports
(a) were minimal. (b) accounted for a small percentage of Gross Domestic Product. (c) exceeded the total revenue of the U.S. government by four-fold. (d) were what attracted the majority of agriculturalists into cotton production.
As the price of a computer falls, overall
a. the marginal utility of computers rises b. the total utility of computers falls c. the total utility per dollar spent on computers falls d. individuals would purchase fewer computers in equilibrium e. individuals would purchase more computers in equilibrium