This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: Assume that as the wage rate rises a worker's substitution effect for leisure is larger than the ... (Read 85 times)

rachel9

  • Sr. Member
  • ****
  • Posts: 495
on: Jul 1, 2018
Assume that as the wage rate rises a worker's substitution effect for leisure is larger than the income effect. We can conclude that in this region, the worker's
 
  A) labor supply curve will be backward bending.
  B) labor supply curve will have the usual upward slope.
  C) labor supply curve will be completely inelastic.
  D) supply curve will be horizontal.

Question 2

In comparing the Cournot equilibrium with the competitive equilibrium,
 
  A) both profit and output level are higher in Cournot.
  B) both profit and output level are higher in the competitive equilibrium.
  C) profit is higher, and output level is lower in the competitive equilibrium.
  D) profit is higher, and output level is lower in Cournot.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

bookworm410

  • Sr. Member
  • ****
  • Posts: 341
Reply #1 on: Jul 1, 2018
Answer to Question 1

B

Answer to Question 2

D


rachel9

  • Member
  • Posts: 495
Reply 2 on: Jul 1, 2018
Excellent

carojassy25

  • Member
  • Posts: 299
Reply 3 on: Yesterday
:D TYSM

« previous next »
 

Did you know?

Patients who have been on total parenteral nutrition for more than a few days may need to have foods gradually reintroduced to give the digestive tract time to start working again.

Did you know?

Blastomycosis is often misdiagnosed, resulting in tragic outcomes. It is caused by a fungus living in moist soil, in wooded areas of the United States and Canada. If inhaled, the fungus can cause mild breathing problems that may worsen and cause serious illness and even death.

Did you know?

Disorders that may affect pharmacodynamics include genetic mutations, malnutrition, thyrotoxicosis, myasthenia gravis, Parkinson's disease, and certain forms of insulin-resistant diabetes mellitus.

Did you know?

Of the estimated 2 million heroin users in the United States, 600,000–800,000 are considered hardcore addicts. Heroin addiction is considered to be one of the hardest addictions to recover from.

Did you know?

Every 10 seconds, a person in the United States goes to the emergency room complaining of head pain. About 1.2 million visits are for acute migraine attacks.

Changes in metabolic rate of selected structures in a mammal's body during different activities Changes in metabolic rate of selected structures in a mammal's body during different activities
A single base substitution leading to a single amino acid substitution in the hemoglobin beta chain A single base substitution leading to a single amino acid substitution in the hemoglobin beta chain
Effect of Perceived Price of a Drug on Placebo Analgesia Effect of Perceived Price of a Drug on Placebo Analgesia
Doppler effect Doppler effect
The rate of global emissions is rising rapidly, especially in India and China The rate of global emissions is rising rapidly, especially in India and China
The Effect of Using a Ratio Scale The Effect of Using a Ratio Scale
Video: Introduction to Eating Disorders

For a complete list of videos, visit our video library