The optimal number of workers hired by a firm in a competitive labor market is determined by the quantity of labor associated with the following equation:
a. P = MRP
b. MPP = MRP
c. MRP = w
d. P = w
e. TLC = w
C
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A safety report is released that contends that sport utility vehicles are less prone to roll over during crashes than was previously thought. At the same time, the price of steel (used to produce motor vehicles) decreases. The net effect of these two incidents on the market for sport utility vehicles is a(n): a. indeterminate change in price and an increase in equilibrium quantity. b
indeterminate change in price and a decrease in equilibrium quantity. c. decrease in price and an increase in equilibrium quantity. d. increase in price and an increase in equilibrium quantity.
If either the production or consumption of a good generates an external cost, then the:
A. social demand curve will lie to the right of the private demand curve. B. social demand for the good will equal zero. C. social marginal cost curve will lie to the left of the private marginal cost curve. D. social marginal cost curve will lie to the right of the private marginal cost curve.
Which of the following tells employees and others what is the main purpose of the company is
a. vision b. mission statement c. company statement d. business plan
The forces that generate economic growth are those that...
What will be an ideal response?