Suppose Cassie's Candles is a profit-maximizing competitive firm. Cassie sells hand-made candles for $10 each. She will pay an hourly wage of $20 so long as the marginal productivity of a worker equals or exceeds two candles per hour
a. True
b. False
Indicate whether the statement is true or false
True
You might also like to view...
The above figure shows the demand and cost curves facing a monopoly. The monopoly maximizes profit by setting price equal to
A) $100. B) $200. C) $300. D) $400.
A ptomaine poisoning scare causes a decrease in the demand for canned tuna fish. Everything else equal, the demand curve for aluminum cans will
a. become steeper. b. become flatter. c. fall. d. rise.
Macroeconomics is best described as a study of ____ and microeconomics as a study of ____.
A. financial markets, specific markets B. nations, individuals C. the stars, solar system D. abstract, concrete
The leading spokesman for monetarism over the last few decades was
A. Paul Samuelson. B. Robert E. Lucas. C. Milton Friedman. D. John Kenneth Galbraith.