An exodus of firms from an industry will shift the demand for labor curve for that industry to the right
a. True
b. False
Indicate whether the statement is true or false
False
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The cost of a one-unit increase in an activity is called the
A) rational cost. B) opportunity benefit. C) marginal cost. D) marginal benefit. E) margin.
A perfectly competitive firm is producing at the point where its marginal cost equals its marginal revenue. If the firm boosts its output, its total revenue will ________ and its profit will ________
A) rise; rise B) rise; fall C) fall; rise D) fall; fall
Refer to Figure 13-1. Ceteris paribus, a decrease in the growth rate of domestic GDP relative to the growth rate of foreign GDP would be represented by a movement from
A) AD1 to AD2. B) AD2 to AD1. C) point A to point B. D) point B to point A.
Consider a consumer choosing between spending her money on food, F, or clothing, C. Assume that a unit of food and a unit of clothing have the same price, and that the consumer can afford a total of 20 units of either food or clothing. If B stands for benefits then "F + C = 10" is the:
A. optimal solution. B. objective function. C. constraint. D. first-order condition.