Refer to the given data. At the profit-maximizing level of employment, this firm's total labor cost will be:
A. $16.
B. $30.
C. $24.
D. $32.
C. $24.
You might also like to view...
If it is said that a currency is undervalued against the dollar, it is meant that:
A) the dollar is worth more of that currency than it would have been under a fixed exchange rate regime. B) the dollar is worth more of that currency than it would have been under a flexible exchange rate regime. C) the dollar is worth less of that currency than it would have been under a fixed exchange rate regime. D) the dollar is worth more of that currency than it would have been under a managed exchange rate regime.
The demand for labor is given by L(w) = 1000 - .5w, where w is the minimum wage. Find the level of w that maximizes the total wage payment, wL(w). What is the wage-elasticity of labor demand at the maximizing minimum wage?
What will be an ideal response?
Economists widely agree that the Consumer Price Index (CPI) understates the true U.S. inflation rate
a. True b. False
Which of the following will tend to result in the least variation in the expected real rate of return from the ownership of stocks?
a. ownership of a single stock for a short period of time b. ownership of a single stock over a lengthy period of time c. ownership of stocks from a specific sector (for example, the automobile industry) over a lengthy period of time d. ownership of a diverse set of stocks (the Standard & Poor's 500, for example) over a lengthy period of time