Author Question: An increase in the price of a firm's output increases the firm's demand for labor because the A) ... (Read 85 times)

Hungry! · **on:** Jun 29, 2018

An increase in the price of a firm's output increases the firm's demand for labor because the

A) marginal product of each worker increases.
B) value of marginal product of each worker increases.
C) value of marginal product curve becomes steeper.
D) value of marginal product curve becomes flatter.

Question 2

If at a given moment, no matter what the price, producers cannot change the quantity supplied, the momentary supply

A) has zero elasticity.
B) has unit elasticity.
C) has infinite elasticity.
D) does not exist.