If MPK = 3, and MRTS = -4 what is MPL?
A) 12
B) -12
C) 4/3
D) -4/3
A
You might also like to view...
Refer to the below graphs. (Assume that the pre-migration labor force in Country A is 0d and that it is 0u in country B.) Domestic output in country B will, after the emigration of labor:
A. Increase by area qrs
B. Increase by area qtus
C. Decrease by area qrs
D. Decrease by area qtus
When Tversky and Khaneman asked one group of people to imagine that, having previously purchased a ticket for $10, they arrive at the theater to discover they have lost their ticket and a second group to imagine that they arrive just before the performance to buy a ticket and find they have lost $10 from their wallets, they found that people in the lost ticket group were more likely to say they would ________ the performance, even though the rational choice model predicts that people in ________.
A. no longer attend; both groups should be equally likely to say they would still attend B. still attend; both groups should be equally likely to say they would still attend C. still attend; the lost $10 group should be more likely to say they would still attend D. no longer attend; the lost $10 group should be more likely to say they would no longer attend
Given AD1 and AS1 in Figure 8.3, the Keynesian approach to achieving a higher level of output would be to
A. Employ an expansionary fiscal policy. B. Impose price controls. C. Increase the growth of the money supply to shift AS1 to AS2 D. Do nothing.
Suppose capital is readily substitutable for labor and that the price of capital falls. We can conclude that the:
A. Substitution effect will tend to reduce the demand for labor B. Output effect will tend to reduce the demand for labor C. Demand for labor will necessarily decline D. Demand for labor will necessarily increase