Refer to Figure 17-2. If the wage rate is $20, how many workers should Becca hire?
A) 6 B) 5 C) 4 D) 3
A
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The United States experienced _______________ from 1930 to 1933.
A. stagflation B. inflation C. deflation D. budget surpluses
The firm's gain in profit from hiring another worker is
A) the marginal revenue product of the extra worker. B) the extra output of the extra worker. C) the reduction in costs from hiring another worker. D) the difference between marginal revenue product and the wage of the worker.
In order for a Pigouvian subsidy to be efficient, the amount it costs the government to implement the subsidy must be less than the economic value of the additional externality benefits created by the subsidy.
Answer the following statement true (T) or false (F)
In the above figure, when the efficient quantity of gloves is produced, the total producer surplus is
A) $3,000. B) $15,000. C) $22,500. D) $45,000.