« previous next »

Author Question: If the labor market in the above figure is competitive, what is the equilibrium wage and quantity of ... (Read 46 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?

Eating food that has been cooked with poppy seeds may cause you to fail a drug screening test, because the seeds contain enough opiate alkaloids to register as a positive.

Did you know?

Though “Krazy Glue” or “Super Glue” has the ability to seal small wounds, it is not recommended for this purpose since it contains many substances that should not enter the body through the skin, and may be harmful.

Did you know?

Approximately one in four people diagnosed with diabetes will develop foot problems. Of these, about one-third will require lower extremity amputation.

Did you know?

It is difficult to obtain enough calcium without consuming milk or other dairy foods.

Did you know?

An identified risk factor for osteoporosis is the intake of excessive amounts of vitamin A. Dietary intake of approximately double the recommended daily amount of vitamin A, by women, has been shown to reduce bone mineral density and increase the chances for hip fractures compared with women who consumed the recommended daily amount (or less) of vitamin A.

A comparison of gradualism and punctuated equilibrium. A comparison of gradualism and punctuated equilibrium.
Demonstrate the Application of Triangular, Figure-Eight, and Tubular Bandages Demonstrate the Application of Triangular, Figure-Eight, and Tubular Bandages
Figure-8s on the toes mobilize joints of the foot. Figure-8s on the toes mobilize joints of the foot.
Reconstruction Drawing of Trajan's Market Reconstruction Drawing of Trajan's Market
Bayesian Analysis of the Genotype of II-2 in Figure A.4 Bayesian Analysis of the Genotype of II-2 in Figure A.4
The Hardy–Weinberg equilibrium for two autosomal alleles. The Hardy–Weinberg equilibrium for two autosomal alleles.
Video: Double Stranded DNA Molecule Animation

For a complete list of videos, visit our video library