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Author Question: If a union negotiates a wage above the market equilibrium, each firm's a. supply of labor is ... (Read 43 times)

stevenposner

  • Hero Member
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  • Posts: 608
on: Jun 30, 2018
If a union negotiates a wage above the market equilibrium, each firm's
 a. supply of labor is greater than its marginal resource cost
  b. supply of labor is less than its marginal resource cost
  c. supply of labor is equal to its marginal resource cost
  d. demand for labor is less than its marginal resource cost
  e. demand for labor is greater than its marginal resource cost

Question 2

Absolute advantage
 a. is the same as comparative advantage
  b. implies autarky
  c. means that countries of the same size have the same opportunity cost of producing both goods
  d. means that a country can produce more of two goods than another country can
  e. means that a country can produce less of two goods than another country can


manuelcastillo

  • Sr. Member
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  • Posts: 304
Reply #1 on: Jun 30, 2018
Answer to Question 1

C

Answer to Question 2

D


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