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Author Question: Suppose there are two types of labor, high skilled and low skilled. The demand curve for high ... (Read 394 times)

cabate

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on: Jun 29, 2018
Suppose there are two types of labor, high skilled and low skilled.
 
  The demand curve for high skilled labor lies ________ the demand curve for low skilled labor and the supply curve of high skilled labor lies ________ the supply curve of low skilled labor. A) above; above
  B) above; below
  C) below; below
  D) below; above

Question 2

Based on the above figure of the costs at Barney's Bagel Bakery, at which level of output will diminishing marginal returns first occur?
 
  A) at 1 bagel
  B) at 500 bagels
  C) at 2000 bagels
  D) at 3000 bagels


sarahccccc

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Reply #1 on: Jun 29, 2018
Answer to Question 1

A

Answer to Question 2

B


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