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Author Question: John's reservation wage is 10 per hour. This means that A) John will not supply labor in the ... (Read 84 times)

acc299

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  • Posts: 569
on: Jun 29, 2018
John's reservation wage is 10 per hour. This means that
 
  A) John will not supply labor in the market until he receives a wage of at least 10 per hour.
  B) John will supply labor in the market at a wage of 10 and lower.
  C) John will work 10 hours per day.
  D) John will decrease the hours he works when his wage rate exceeds 10 per hour.

Question 2

In the long run, a firm in monopolistic competition produces where the slope of the average total cost curve is
 
  A) negative.
  B) zero.
  C) positive.
  D) equal to the marginal cost.


manuelcastillo

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

A

Answer to Question 2

A


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