Suppose labor demand can be described as ED = 120,000 ? 1.5w where w is yearly salary. How many more workers are demanded at a going wage of $60,000?
A. 50,000
B. 30,000
C. 20,000
D. 60,000
E. 40,000
Answer: B
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Government-backed deposit insurance ________
A) protects "good" banks from the misdeeds of "bad" banks B) is intended to encourage banks to pursue high-risk activities C) is an example of prudential regulation D) is an example of government-directed credit
If a monopoly firm sells to competitive distributors, all of the following are true regarding the demand for the monopoly's product except which one?
A) It depends on the consumers' market demand. B) It is the consumers' market demand. C) It is the distributors' demand. D) It is a derived demand.
Jerome, the florist, sold 500 bridesmaid's bouquets in June. He estimates his costs that month were ATC = $10, AVC = $6, and MC = $9 . If he sold each bouquet at the constant market price of $9, Jerome:
a. made an economic profit of $500. b. made a loss of $500. c. made an economic profit of $1,500. d. made a loss of $1,500. e. should have shut down in June.
Moral hazard occurs when the parties on once side of the market, who have information not known to others, self select in a way that adversely affects the parties on the other side of the market
Indicate whether the statement is true or false