This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: If a firm hires its fourth worker for 5 and its fifth worker for 8, then a. the firm is a ... (Read 87 times)

nelaaney

  • Hero Member
  • *****
  • Posts: 560
on: Jun 30, 2018
If a firm hires its fourth worker for 5 and its fifth worker for 8, then
 a. the firm is a monopolist.
  b. the firm must be substituting capital for labor.
  c. the fifth worker must have been less productive than the fourth.
  d. the firm is not maximizing its profit.
  e. the labor market is not perfectly competitive.

Question 2

Which of the following is the purpose of a minimum wage?
 a. To reduce the wage rates of high-income workers
 b. To keep a track of the changes in the wage rate in an unskilled labor market
  c. To deal with the problem of unemployment in the market
 d. To help increase the profits earned by the producers
 e. To raise the wage rate for the lowest income workers


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

emilymalinowski12

  • Sr. Member
  • ****
  • Posts: 338
Reply #1 on: Jun 30, 2018
Answer to Question 1

e

Answer to Question 2

e


nelaaney

  • Member
  • Posts: 560
Reply 2 on: Jun 30, 2018
Gracias!

parshano

  • Member
  • Posts: 333
Reply 3 on: Yesterday
:D TYSM

« previous next »
 

Did you know?

To combat osteoporosis, changes in lifestyle and diet are recommended. At-risk patients should include 1,200 to 1,500 mg of calcium daily either via dietary means or with supplements.

Did you know?

Throughout history, plants containing cardiac steroids have been used as heart drugs and as poisons (e.g., in arrows used in combat), emetics, and diuretics.

Did you know?

The average person is easily confused by the terms pharmaceutics and pharmacology, thinking they are one and the same. Whereas pharmaceutics is the science of preparing and dispensing drugs (otherwise known as the science of pharmacy), pharmacology is the study of medications.

Did you know?

Symptoms of kidney problems include a loss of appetite, back pain (which may be sudden and intense), chills, abdominal pain, fluid retention, nausea, the urge to urinate, vomiting, and fever.

Did you know?

Chronic marijuana use can damage the white blood cells and reduce the immune system's ability to respond to disease by as much as 40%. Without a strong immune system, the body is vulnerable to all kinds of degenerative and infectious diseases.

Rebound Tenderness, Apply Firm Pressure to the Abdomen Rebound Tenderness, Apply Firm Pressure to the Abdomen
The approval of a new drug is a four-stage process: (1) preclinical investigation, (2) clinical inve The approval of a new drug is a four-stage process: (1) preclinical investigation, (2) clinical inve
One-handed kneading. Tissues are lifted with the whole hand in firm contact. One-handed kneading. Tissues are lifted with the whole hand in firm contact.
Latitude versus Agricultural GDP per Agricultural Worker Latitude versus Agricultural GDP per Agricultural Worker
Predicted versus Actual GDP per Worker Predicted versus Actual GDP per Worker
Predicted versus Actual GDP per Worker Predicted versus Actual GDP per Worker
Video: Introduction to Genetics

For a complete list of videos, visit our video library