Assume that automobiles are a normal good. A decrease in income will
A. move a firm up the marginal revenue product curve of auto workers.
B. shift the marginal revenue product curve of auto workers to the left.
C. have no effect on the marginal revenue product curve of auto workers.
D. shift the marginal revenue product curve of auto workers to the right.
Answer: B
You might also like to view...
When a good is imported, the domestic production of it ________ and the domestic consumption of it ________
A) increases; increases B) increases; decreases C) decreases; increases D) decreases; decreases E) increases; does not change
In an unregulated competitive market, the presence of marginal external benefit from a good or service results in overproduction
Indicate whether the statement is true or false
The demand curve for a monopolist is:
a. the demand curve for the industry. b. less than the market demand curve. c. below the marginal revenue curve. d. nonexistent. e. the sum of the demand curves of the perfectly competitive firms in the industry.
Refer to the information provided in Figure 2.1 below for the economy of Macroland to answer the question(s) that follow.
Figure 2.1Refer to Figure 2.1. If Macroland's economy is at Point A, it could produce more capital goods
A. without sacrificing any consumer goods. B. only with additional resources. C. only by sacrificing some consumer goods. D. only with technological improvements.