In the above figure, when the efficient quantity is produced the marginal social cost of the last magazine is
A) $1.
B) $3.
C) $5.
D) some amount not given in the above three answers.
B
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With labor migration, the amount of change in the destination country's wage rates depends on the:
A. Original supply of labor in that country B. Original supply of labor in the country of origin C. Elasticity of demand for labor in that country D. Elasticity of demand for labor in the country of origin
A constant-elasticity demand function can be obtained by:
A) taking the logarithm of the dependent variable only. B) taking the logarithm of the independent variable(s) only. C) taking the logarithm of the dependent and independent variable(s). D) taking the reciprocal of the dependent variable(s).
Since teachers are an input in the production of education, when teacher salaries increase,
A. the demand for education decreases. B. the supply of education increases. C. the demand for teachers increases. D. the supply of education decreases.
An increase in worker productivity
A. reduces the demand for labor. B. reduces the supply of labor. C. increases the supply of labor. D. increases the demand for labor.