The central idea distinguishing the "efficiency wage model" is that the wage paid by Firm A relative to the wages at other firms helps determine
A) Firm A's demand for labor.
B) the amount of labor Firm A can hire.
C) the productivity of Firm A's workers.
D) Firm A's markup fraction.
C
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The neoclassical growth theory concluded that economic growth is temporary because of a population explosion that occurs as a result of economic growth
Indicate whether the statement is true or false
Mr. McConaughey has the afternoon, 5 hours, to spend doing whatever he wants. How much time does Mr. McConaughey spend with his friends and family and how much time does he spend breaking a sweat to maximize his total utility?
A) 3 hours with friends and family and 2 hours breaking a sweat B) 2 hours with friends and family and 3 hours breaking a sweat C) 0 hours with friends and family and 5 hours breaking a sweat D) 3 hours with friends and family and 4 hours breaking a sweat
The table above shows the marginal private benefit, marginal social benefit, and marginal cost of education at the College of Epsilon. What is the tuition that will make the number of students equal to the efficient number?
A) $400 B) $800 C) $2,800 D) $3,200
If you dislike the smell of gardenias and you live next to a gardenia farm, the scent of gardenias that wafts over to you would be, in economic terms, a:
a. positive nuisance b. nullified benefit. c. pollutant. d. negative externality.