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Author Question: An asset's liquidity depends upon A) the absolute size of its value and how long it takes to sell ... (Read 24 times)

storky111

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on: Jun 30, 2018
An asset's liquidity depends upon
 
  A) the absolute size of its value and how long it takes to sell the asset at market value.
  B) how long it takes to sell the asset at market value and the costs of selling the asset.
  C) the costs of selling the asset and the fraction of its value that can be obtained if it is sold immediately.
  D) the fraction of its value that can be obtained if it is sold immediately and the absolute size of its value.

Question 2

Explain why the labor supply curve is positively sloped. Explain why labor demand is downward sloping.
 
  What will be an ideal response?


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IAPPLET

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Reply #1 on: Jun 30, 2018
Answer to Question 1

B

Answer to Question 2

It is assumed that additional labor is supplied at higher real wage rates. At a higher real wage rate, the price of leisure is greater in terms of foregone income. Along the labor demand curve, the real wage is equal to the marginal product of labor. Because of diminishing marginal returns, the marginal product of labor falls as the quantity of labor rises, so the real wage must also fall as the quantity of labor rises.


storky111

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Reply 2 on: Jun 30, 2018
Wow, this really help

Chelseyj.hasty

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Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

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