This topic contains a solution. Click here to go to the answer

Author Question: Labor market equilibrium occurs at a real wage where the demand for labor exceeds the supply of ... (Read 386 times)

tnt_battle

  • Hero Member
  • *****
  • Posts: 556
Labor market equilibrium occurs at a real wage where the demand for labor exceeds the supply of labor.
 
  Indicate whether the statement is true or false

Question 2

If the marginal rent cost of moving from Apartment 1 to Apartment 2 is -60, and marginal commuting cost of moving from Apartment 1 to Apartment 2 is 40:
 
  A) moving from Apartment 1 to 2 will save the renter 60 more in rent and 40 more in commuting.
  B) moving from Apartment 1 to 2 will cost the renter 60 more in rent but save 40 in commuting.
  C) moving from Apartment 1 to 2 will cost the renter 60 more in rent and 40 more in commuting.
  D) moving from Apartment 1 to 2 will save the renter 60 in rent but cost 40 more in commuting.
 
  Assume that a firm wants to set up a factory. It has four different options. The rent of the factory in the four different locations and the time taken to transport the product from each location to the market is shown in the table below. The opportunity cost of time is 10 per hour.
 
  Factory Location Monthly Commuting Time (hours) Monthly Rent ()
  Very Far 30 2,060
  Far 25 2,100
  Close 15 2,300
  Very Close 5 2,500


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

mcarey591

  • Sr. Member
  • ****
  • Posts: 365
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
Answer Preview
Only 44% of students answer this correctly




tnt_battle

  • Member
  • Posts: 556
Reply 2 on: Jun 30, 2018
Thanks for the timely response, appreciate it


carlsona147

  • Member
  • Posts: 341
Reply 3 on: Yesterday
Excellent

 

Did you know?

The average human gut is home to perhaps 500 to 1,000 different species of bacteria.

Did you know?

Most strokes are caused when blood clots move to a blood vessel in the brain and block blood flow to that area. Thrombolytic therapy can be used to dissolve the clot quickly. If given within 3 hours of the first stroke symptoms, this therapy can help limit stroke damage and disability.

Did you know?

The effects of organophosphate poisoning are referred to by using the abbreviations “SLUD” or “SLUDGE,” It stands for: salivation, lacrimation, urination, defecation, GI upset, and emesis.

Did you know?

ACTH levels are normally highest in the early morning (between 6 and 8 A.M.) and lowest in the evening (between 6 and 11 P.M.). Therefore, a doctor who suspects abnormal levels looks for low ACTH in the morning and high ACTH in the evening.

Did you know?

People with alcoholism are at a much greater risk of malnutrition than are other people and usually exhibit low levels of most vitamins (especially folic acid). This is because alcohol often takes the place of 50% of their daily intake of calories, with little nutritional value contained in it.

For a complete list of videos, visit our video library