An increase in the price of the output produced by labor will:
A. increase the supply of labor.
B. decrease the demand for labor.
C. decrease the supply of labor.
D. increase the demand for labor.
Answer: D
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What will be an ideal response?
If V = 10, Q = 4,000, M = 800, then P
A. is 2. B. is 4. C. is 20. D. is 40.
Refer to the above figures. Julie's total utility for consuming donuts reaches a maximum at 4 cookies. Which panel best represents marginal utility?
A. Panel A B. Panel B C. Panel C D. Panel D
Refer to the information provided in Table 6.1 below to answer the question(s) that follow. Table 6.1Number of Hamburgers per DayTotal UtilityMarginal Utility130?252?367?476?5?4Number ofSodas per DayTotal UtilityMarginal Utility120?235?347?457?5?7Refer to Table 6.1. The total utility of five hamburgers per day is
A. 76. B. 80. C. 96. D. indeterminate from this information.