Author Question: The market supply of labor curve has a positive slope if higher wages induce households to choose ... (Read 105 times)

Alygatorr01285 · **on:** Jun 29, 2018

The market supply of labor curve has a positive slope if higher wages induce households to choose

A) leisure rather than supplying labor in the labor market.
B) supplying labor in the labor market rather than leisure.
C) demanding labor rather than supplying it.
D) None of the above answers is correct.

Question 2

A firm's marginal cost is 82, its average total cost is 50, and its output is 800 units. Its total cost of producing 801 units is

A) less than 40,000.
B) between 40,000 and 40,050.
C) between 40,050 and 40,080.
D) greater than 40,080.