When individuals are debating whether to supply labor, they think about all of the following except:
A. the benefit of more income for each hour worked.
B. the cost in terms of forgone leisure.
C. whether the benefits outweigh the costs.
D. the level of profits they bring to the firm.
Answer: D
You might also like to view...
Specialization and trade can take place only if a country is endowed with more of something compared to other countries
a. True b. False Indicate whether the statement is true or false
This graph demonstrates the domestic demand and supply for a good, as well as the world price for that good.
According to the graph shown, if this economy were an autarky, consumers would get area ________ in consumer surplus:
A. ABCDE. B. ABC. C. A. D. ABCDEFG.
When the coupon rate on newly issued bonds increases relative to older, outstanding bonds, what happens?
A) The market price of the older bond falls in the secondary market. B) The market price of the older bond rises in the secondary market. C) Older bonds will sell for more than their face value. D) Older bonds can still be sold at their face value.
In the DuPont cellophane case, rivals accused DuPont of monopolizing cellophane. DuPont claimed that the relevant market was flexible wrapping material, such as wax paper and aluminum foil, rather than just cellophane. DuPont won the case. What type of evidence constituted DuPont's defense?