Which of the following is not held constant along a firm's demand curve for labor?
A) the quantity of other inputs used by the firm B) the price of the product produced by the firm
C) the wage rate D) changes in technology
C
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Compared with price searchers' markets, price takers' markets are likely to result in
A) less advertising. B) less competition. C) lower output. D) more profit.
The ________ the exchange rate, the ________ are foreign-produced goods and hence the smaller the quantity of dollars supplied
A) lower; more expensive B) lower; cheaper C) greater; cheaper D) greater; more expensive
Tom and Di grow tomatoes and turnips. Tom has a comparative advantage in growing tomatoes if ________
A) Tom can grow more tomatoes than Di can B) his opportunity cost of tomatoes is less than Di's opportunity cost of tomatoes C) his opportunity cost of tomatoes is less than his opportunity cost of turnips D) his marginal benefit from tomatoes is greater than Di's
What are the major arguments in the case for income inequality?
What will be an ideal response?