A firm's price rises. As a result, the
A) supply of labor to the firm decreases, that is, the labor supply curve shifts leftward.
B) supply of labor to the firm increases, that is, the labor supply curve shifts rightward.
C) demand for labor by the firm increases, that is, the labor demand curve shifts rightward.
D) demand for labor by the firm decreases, that is, the labor demand curve shifts leftward.
C
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According to your text, the economic way of thinking focuses on
A) actions, interactions, and consequences. B) intentions, motivations, and results. C) hypothesis generation, determination of control group, and testing of hypothesis. D) id, ego, and superego.
Are all externalities negative? Explain
What will be an ideal response?
Variable inputs are defined as any resource that:
a. varies with the size of the firm's plant. b. cannot be changed as output changes. c. can be changed as output changes. d. can be increased or decreased hourly.
As firms ________ a monopolistically competitive industry the demand and marginal revenue curves facing each firm begin to shift to the ________.
A. enter; right B. exit; left C. exit; right D. expand in; right