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Author Question: What happens to the marginal product (MP) of labor when the market price of the good produced ... (Read 74 times)

Pineapplelove6

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on: Jun 30, 2018
What happens to the marginal product (MP) of labor when the market price of the good produced increases?
 a. Increases proportional to price.
  b. Decreases proportional to price.
  c. Stays the same.
  d. Falls because quantity demanded falls.
  e. Rises because quantity demanded falls.

Question 2

According to classical economists, government intervention is:
 a. necessary to maintain a stable price level in the long run.
  b. necessary to maintain a stable price level in the short run.
  c. necessary to maintain full employment in the long run.
  d. necessary to maintain full employment in the short run.
  e. not necessary to maintain full employment.


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Sierray

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Reply #1 on: Jun 30, 2018
Answer to Question 1

c

Answer to Question 2

e


Pineapplelove6

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Reply 2 on: Jun 30, 2018
Thanks for the timely response, appreciate it

yeungji

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Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

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