Microeconomics

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In an input market, economic rent is defined as a. the total remuneration paid to a factor of ... Started by ss2343	1 Replies 45 Views	Jul 1, 2018 by Anna
A firm will hire additional units of any input up to the point where a. the marginal productivity ... Started by ahriuashd	1 Replies 36 Views	Jul 1, 2018 by ashely1112
If a profit-maximizing firm is a price taker in the input market but not in the output market, its ... Started by Shelles	1 Replies 49 Views	Jul 1, 2018 by elyse44
A profit-maximizing firm will never hire that quantity of a factor of production for which that ... Started by nevelica	3 Replies 74 Views	Jul 1, 2018 by chreslie
The output effect of a change in the wage rate on a firm's demand for labor input will be greater ... Started by HudsonKB16	1 Replies 38 Views	Jul 1, 2018 by sailorcrescent
The size of the reduction in quantity of labor hired by a firm due to an increase in the wage rate ... Started by shofmannx20	1 Replies 30 Views	Jul 1, 2018 by rleezy04
If the wage rate rises, labor's share in the total costs of a production process a. will increase. ... Started by Destiiny22	1 Replies 15 Views	Jul 1, 2018 by al
A monopsonist will hire labor up to the point where a. the marginal expense of labor is minimized. ... Started by future617RT	1 Replies 30 Views	Jul 1, 2018 by Sophiapenny
A price discriminating monopsonist could increase its profits by a. paying the minimum wages ... Started by Haya94	1 Replies 20 Views	Jul 1, 2018 by apple
A monopolist union that desired to maximize its total wage bill ( ) would offer that quantity of ... Started by P68T	1 Replies 18 Views	Jul 1, 2018 by randomguy133
When an individual's wage rises, the substitution effect tends to a. increase hours worked. b. ... Started by Chelseaamend	1 Replies 42 Views	Jul 1, 2018 by Moriaki
If an individual's supply of labor curve is positively sloped throughout, then a. the substitution ... Started by chads108	3 Replies 57 Views	Jul 1, 2018 by carlsona147
In the two-period utility maximization model the opportunity cost of one unit of C1 is a. one unit ... Started by Beheh	1 Replies 48 Views	Jul 1, 2018 by Pariscourtney
Suppose an individual has a fixed amount of wealth to allocate between consumption in two periods ... Started by meagbuch	1 Replies 100 Views	Jul 1, 2018 by SomethingSomething
A fall in the real interest rate leads to a. an increase in the rental rate on a machine. b. a ... Started by pane00	1 Replies 65 Views	Jul 1, 2018 by ryhom
The present value of 1 payable in two years is a. 1. b. 1/(1 + 2r). c. 1/(1 2r). d. 1/(1 + ... Started by nummyann	1 Replies 12 Views	Jul 1, 2018 by sierramartinez
In a perfectly competitive market a firm's rental rate for a machine (v) will be given by: v = P(r + ... Started by hbsimmons88	1 Replies 23 Views	Jul 1, 2018 by nikmaaacs
If real extraction costs do not change, the relative price of a finite resource would be expected to ... Started by sarasara	1 Replies 54 Views	Jul 1, 2018 by GCabra
The difference in present value between a perpetuity that promised 1 per year starting today and one ... Started by fasfsadfdsfa	1 Replies 31 Views	Jul 1, 2018 by ebenov
The yield on a bond is that interest rate for which the present value of the interest and principal ... Started by 809779	3 Replies 59 Views	Jul 1, 2018 by Liamb2179
The rental rate approach to investment choices by firms and the present value approach a. always ... Started by Sportsfan2111	1 Replies 107 Views	Jul 1, 2018 by ankilker
Draw a two period budget line where the borrow/lending rate of interest, r, allows consumers to ... Started by nummyann	1 Replies 20 Views	Jul 1, 2018 by CourtneyCNorton
Suppose you know a piece of land will be worth 1 million (real) in 2045, and the real interest rate ... Started by jlmhmf	1 Replies 31 Views	Jul 1, 2018 by Qarqy
Suppose Johnny Stroller sells 12, 25, and 75 year-old scotch in under black, red, and blue labels. ... Started by notis	1 Replies 71 Views	Jul 1, 2018 by succesfull
Which of the following is an application of the adverse-selection problem? a. a customer driving ... Started by dmcintosh	1 Replies 68 Views	Jul 1, 2018 by k2629