« previous next »

Author Question: If the labor market in the above figure is competitive, what is the equilibrium wage and quantity of ... (Read 64 times)

Diane

  • Hero Member
  • *****
  • Posts: 576
on: Jun 29, 2018
If the labor market in the above figure is competitive, what is the equilibrium wage and quantity of labor hired?
 
  A) 10 and 100 hours
  B) 10 and 50 hours
  C) 5 and 100 hours
  D) 15 and 50 hours

Question 2

According to the principle of diminishing marginal utility, as an individual consumes more and more of a good or service, the total utility increases while the marginal utility decreases.
 
  Indicate whether the statement is true or false


johnpizzaz

  • Sr. Member
  • ****
  • Posts: 345
Reply #1 on: Jun 29, 2018
Answer to Question 1

A

Answer to Question 2

TRUE


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
« 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?

By definition, when a medication is administered intravenously, its bioavailability is 100%.

Did you know?

The human body's pharmacokinetics are quite varied. Our hair holds onto drugs longer than our urine, blood, or saliva. For example, alcohol can be detected in the hair for up to 90 days after it was consumed. The same is true for marijuana, cocaine, ecstasy, heroin, methamphetamine, and nicotine.

Did you know?

According to the Migraine Research Foundation, migraines are the third most prevalent illness in the world. Women are most affected (18%), followed by children of both sexes (10%), and men (6%).

Did you know?

It is important to read food labels and choose foods with low cholesterol and saturated trans fat. You should limit saturated fat to no higher than 6% of daily calories.

Lewis symbols,(Figure 1) Lewis symbols,(Figure 1)
Demonstrate the Application of Triangular, Figure-Eight, and Tubular Bandages Demonstrate the Application of Triangular, Figure-Eight, and Tubular Bandages
Apply scissoring between metatarsals and figure-8s on toe joints to mobilize the foot. Apply scissoring between metatarsals and figure-8s on toe joints to mobilize the foot.
Joint movement of the fingers. Apply scissoring at the knuckles and figure-8s to the fingers to ... Joint movement of the fingers. Apply scissoring at the knuckles and figure-8s to the fingers to ...
Overallocation of Labor to Sector 1 Overallocation of Labor to Sector 1
Juan's Software Service Company is in a perfectly competitive market. Juan has total fixed ... Juan's Software Service Company is in a perfectly competitive market. Juan has total fixed ...
Video: Lipid catabolism ( ketogenesis and oxidation of glycerol) and Lipid anabolism (lipogenesis)

For a complete list of videos, visit our video library